Illinois Purchase Agreement and Investor Friendly Title Company

11 Replies

Hello!

Everyone!   I'm a new wholesaler and is in need of some assistance. 

@SeanJones or anyone else,  do you have a copy of a Illinois purchase agreement that you use to put a home under contract for a wholesale deal?  

Also does anyone of an investor friendly title company in Chicago who is familiar with wholesaling transactions, assignment of contracts & transactional funding?

Hello Martha F.

Chicago title is the mostly used.

I go online or just go to a realtor office or title co. they usually can help.

Go in looking to do business with them, that usually works.

Remember location, location, 3 bed 1 1/2 or 2 bath, garage, schools, crime,

this makes a wholesalers work easier.    

Hop this helps.

PS. find me a flip in the NW suburbs. 

Promotion
Sharestates
America's Private Lender
Receive Fix and Flip Funding Approval In As Little As 24 Hours!
Sharestates helps developers and brokers secure funding quickly with the most competitive terms.
Get Funded

Hi @Martha F.  

In my experience, most (if not all) title companies will be "investor friendly" if you have properly structured the transaction. This includes proper disclosures. 

If you're using a lawyer (and you should, at least initially), make sure they know it is a non-traditional deal. The worst thing you can do is bring on a lawyer or title company that does traditional closings, have them quote you a price, then inform them that it's a creative deal. They will probably get confused, frustrated, feel he/she was misled and want to change the fee. 

Whether it's a title company or lawyer, you should be honest about the scope of the transaction and the hoops everyone will have to jump through to get it closed. There are many people out there capable of closing these deals. Good luck!

@Martha F.

I wholesale properties on the south side of the city and the south suburbs, so feel free to shoot me a message and I can connect you with some good resources that will be beneficial to you. Also, if you're looking to network with other investors on the south side of the city, @Jeff Valentino hosts a great meet up once a month out in Orland Park. Its strictly networking and no pitching of any products. Talk with you soon.