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Anyone in the San Francisco Bay area know of any escrow companies that have experience working with wholesalers?
Just wondering.. I'm currently closing escrow with 1 of the current deals that I’m wholesaling, but ran into lots of challenges with the escrow company I’m using. The real estate (RE)documents used to transfer the RE purchase contract & secure my assignment fee all have been vetted by my attorney, but the escrow company I’m using wasn’t familiar with a RE contract being assigned during escrow.
They also didn’t want my fee to be disbursed from the escrow funds because I’m not a RE broker. I tried explaining to the escrow company it was a “finder’s fee” not a “RE commission” but it was useless. Additional paperwork & disclosures had to be completed before moving forward with the deal.
Challenging escrow companies have the potential to jeopardize wholesale deals. I’m hoping someone can provide a couple escrow companies that have experience working with wholesalers and assignable contracts. Any help would be much appreciated.
SF Bay Area Wholesale
I too am looking. If I find one I will let you know, if you find one please update us. Thanks!
Will do. Thnx Jason.
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