So I know this is a very newbie question, but I was wondering about the logistics of taking the contract to the title company. Once I get an a-b contract signed with a seller do I then take it over to the title company right away, then find a buyer, sign an b-c contract and take that to the same title company separately? Or do I get both a-b and b-c contracts signed and then take them to the title company at the same time? Thanks in advance.
The answer is dependent on your relationship with the title company. I try to use the same company whenever possible and I send in contracts immediately. That company knows what I'm trying to accomplish and if my deal falls apart, they don't charge me any fees because they know I will be back with another deal in a few days. If you are just starting out, you should go interview some title companies and explain what your business model looks like. They will tell you what they are comfortable with.
@Derek Dombeck on the west coast title companies pretty much wont fund a deal with the A buyers funds paying for C buyer property and cutting a check to B B has to come into escrow their own funds.
Frankly its a respa violation but before everyone jumps on me I know many violate LOL.
PS I used spend my summers at Winneconne !!! back in the 60s when life was so much easier.
the corn sweeter the cheese at the farm out of this world.. and of course all the other great food out your way..
Last time I was there I just flew over it I was doing transition training and landed at GB and a few other airports cant recall now that was 2004...
love the area though !!!
as an aside I could not think of much tougher thing to do than to try to wholesale in the SF bay area at least the prime areas.. you can get away with it in the war zone areas..
My point really is to start the discussion and relationship with your title company before you need them in order to know what they are willing to do. I wouldn't want to be dealing with CA real estate laws either.
Next time you find yourself anywhere near WI, let me know. We have plenty of cheese, beer, and brats on hand always!!!
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