I need help in my first wholesale deal please !!!!!!!!!!

5 Replies

I have a property in consideration. Seems a good wholesale deal but I do not have any title company which is good for wholesale deals (in Wayne county, MI or nearby). At what stage I need title company to be involved in a deal or can I wholesale a deal assigning it to my cash buyer without talking to title company?

Your help and kind guideline will be highly and very highly appreciated please.

Hello, Muhammad 

I would suggest going to local REIA meetings in your area there are always representatives from title companies there looking to work with investors just tell them your new and looking for a title company to work with, ask other real estate investors which title companies they use, it's always better to find a title company at your local REIA or through a referral because they will be investor friendly and more understanding of what your trying to do.

You can also contact a few of your buyers from your buyers list and ask them who their title company is and introduce yourself most of the time your cash buyers will want to close with them anyway because they are familiar with them so it's better to establish a relationship with them as well 

You have to close with either a title company or a real estate attorney who can do closings to make sure all of the paperwork and the official transfer of the property takes places

Hi Muhammad,

I did my first wholesale deal on a house in Wayne county. I closed at a title company in Clarkston (Oakland county) owned by an investor. I used a one page PA and a one page assignment doc. You definitely need to close at a title company. You don't have to go to the closing, but I would go to every single one to make sure everything goes well, and you want to be there to pick up your check anyway. Call me if you need to talk. Good luck. 

if your able to just assign the contract why would you need a tittle company? its a not like your closing a to b then b to c all your taking is talking a contract between a and b and assigning it to c you don't need a closing or title company for that.