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Updated almost 10 years ago on . Most recent reply

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Mike Thompson
  • Professional
  • Simi Valley, CA
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When wholesaling who pays for the title company

Mike Thompson
  • Professional
  • Simi Valley, CA
Posted

When wholesaling a property  who pays for the title company if you go to a title company as soon as you get your purchase agreement signed? Do you have to pay the title company anything upfront? Or does the person who you assigned it over to pay for everything? And what happens if you are unable to close? Thanks so much 

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Gerardo Dominguez
  • Real Estate Agent
  • Chicago, IL
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Gerardo Dominguez
  • Real Estate Agent
  • Chicago, IL
Replied
Originally posted by @Mike Thompson:

When wholesaling a property  who pays for the title company if you go to a title company as soon as you get your purchase agreement signed? Do you have to pay the title company anything upfront? Or does the person who you assigned it over to pay for everything? And what happens if you are unable to close? Thanks so much 

 Who pays the closing costs is negotiable and is determined between you and the seller before you both sign the sale contract.  If you wholesale the property, the end buyer is basically just stepping in for you on the original contract so it won't change.  If the original contract says the buyer will pay closing costs (which include the title company charges) then just make sure to include those costs in the the offer your making to the end buyer.

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