All Forum Posts by: Erin Abernethy

 yeah, it was clear from the beginning that she just doesn't need the business and simply doesn't deal with anything that's not 100% establishment endorsed - two real estate agents and a buyer using traditional financing or cash etc etc etc or. There was no presenting anything to her - she had a wall up from the beginning. It's really just a matter of moving on to the next one. 

 @Ron S. Agreed -that's all very good information- I actually recently had a fellow investor friend tell me about insurance changes triggering the notice of DOS clauses. And you did a great job of explaining some of the rationale behind why it makes sense for a lender to enact the DOS clause.
Thanks you. 
So, how likely would it be that a lender would agree, if asked, to title transfer without calling the loan? What about transfer to an LLC for liability protection purposes, provided the LLC owner and mortgagee are the same?

@tom - yeah...  I read that previously -  and went into that some above in my earlier reply - it's all in the details of how the transaction is conducted. but they are not illegal no are they across the board unethical - it's the details. 

@Jonathan  - Because it is not, in fact, illegal. She just isn't *comfortable* dealing with those transactions which is well within her rights. But they are not illegal. You didn't read the entire thread, I can see. 

@Ron S. - well she was certainly rude. So, all in the room were aware of the potential problems with assigning contracts and sub to deals. And it all has to do with intentionally misleading someone or lack of transparency re: the transaction so that the seller and the end buyer (which would be me in this scenario) don't know what the assignment fee is. If that's all out in the open, there's nothing shady at all. And as far as legality goes, it's NOT illegal. 
As far as sub-to, the DOS clauses are there not to say a person cannot transfer title but to says that in the case it is transferred the lender reserves the RIGHT to enact the DOS. There's no question there. And again, it's not shady; it's the lender's choice. If it's enacted, then you re-finance or pay it off.
All that said, this lawyer was not only elitist and rude but she also isn't well-informed. 

Met with an Asheville, NC attorney today to establish a potential relationship for future closings.  When we mentioned the various types of transactions we might be bringing, this attorney proceeded to condescend to my partner and me - for the entire conversation along the lines of  "if you want to engaged in shady transactions then there are shady and predatory lawyers who will help you"   She was not one of these lawyers apparently. She said that any attorney in NC that is well-respected would not do closings for wholesalers or those purchasing from them because the NC BAR has forbade attorneys from doing so. She also said that sub-to deals and seller financed deals are not above board and that no well-respected attorney would close those either. I was shocked at how condescending, disrespectful of entire groups of people, and elitist she was given the other things i know about her and her firm. This is an attorney I actually found through Bigger Pockets, which she scoffed at when mentioned, making clear that she does NOT have to advertise or sell herself and that she would not want to be associated with BP. Per the person on BP who recommended her she was supposed to be friendly, spend time, not make you feel like a number, etc. Unfortunately she did her damnedest to make me feel like a second class citizen by the time I left her office. 

So - I'm here to ask any of you who know Western NC, is there anyone in the WNC area you would recommend as a closing attorney for various types of real estate deals - tradition, yes but also sub-to, wholesaling (buy or sale side), seller financing, FSBO, etc. ?
Also looking for attorneys to recommend business structure / entity formation (for real estate ventures of all kinds)  as well as  RA services.  

@Mitch Davidson - Thank you for referral.  I'll check with them and see what they say.  

@Sean O'Keefe - I'm looking for people to personally recommend a CPA to me, not necessarily the CPA to recommend themselves. And while I'm open to using someone in another area, I'm not open to using someone for whom I'm unable to procure multiple personal recommendations. And yes, I prefer someone local. 

I think I knew (and still know) what I'm looking for when I made my post. 

Does anyone have a recommendation for a real estate savvy and investor friendly CPA/tax professional in WNC (Asheville and the surrounding areas) ?