Homeowner · Member since 2008 · 21 posts · 0 votes
I contacted the closing attorney for a title company I used to work for to inquire whether or not they did closings for assignments and this is what he replied back to me:
"Yes we could do the closings, but you may have issues obtaining title insurance. The title insurance companies are cracking down on these types of transactions, because they look for good money transfers. If you show good money throughout you would probably be okay."
Real Estate Investor · Katy, TX · Member since 2008 · 430 posts · 22 votes
18y
No the title insurance is applied at closing, not the title search. You as a wholesaler do not need to worry about title insurance. Title insurance is really between the original seller and the end buyer.
Minneapolis, MN · Member since 2008 · 691 posts · 12 votes
18y
Katrina, I would suggest going to your local real estate investment club and asking other investors who they use for an attorney and title company. Both need to be investor-savvy and willing to work with you on creative deals. That's what I did and it saved alot of time calling companies who are only interested in working conventionally. Mike
Real Estate Investor · Katy, TX · Member since 2008 · 430 posts · 22 votes
18y
Or you could just start calling title companies yourself and interviewing them.
Basically just tell them what you plan to do and how you plan to do it, and if the gawk or have no idea what you are talking about, just go to the next one. If they tell you that they can do it, ask them if you can send them a copy of your contracts you plan to use to review them and make sure they will use them.