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All Forum Posts by: Joshua Horn

Joshua Horn has started 8 posts and replied 16 times.

Post: After house is under contract. Do I....

Joshua HornPosted
  • Pottstown, PA
  • Posts 16
  • Votes 1
Originally posted by @Alex Deacon:

@Joshua Horn that will depend on how your contract is worded. If you dont assign the contract to another party are you still moving forward with the purchase? If yes then get the title work started now. Also just to be safe you may want to start title work even if you are planning on assigning just so you are aware if there are any liens or issues with the title

 Thanks for the response Alex! My plan is to find a property at a good deal something an investor can work with. I plan on getting a seller under contract and then assigning it to an investor. I'm just wondering what to expect to come when I have a seller sign the contract, he's taken care of for the time being, then after I find an investor and he for sure wants the property, what to expect? He signs a contract to buy the house then I do what? Do I take both contracts to a title company and tell them the situation, what happens? If you know. Thanks either way!

Post: After house is under contract. Do I....

Joshua HornPosted
  • Pottstown, PA
  • Posts 16
  • Votes 1

So I was just wondering, I don't know if it matters that I'm in PA, but after I get a house under contract for wholesaling, do I take that to a title company so they know I'm buying it or do I wait till I have a buyer that is for sure buying and I get him to sign my end buyer contract, then take both of them to the title company and they'll handle it from there? 

Post: Wholesaling contract questions????

Joshua HornPosted
  • Pottstown, PA
  • Posts 16
  • Votes 1

Thank Karen!

Post: Wholesaling contract questions????

Joshua HornPosted
  • Pottstown, PA
  • Posts 16
  • Votes 1

So I plan on wholesaling, I feel good with finding houses, I already know of a ton in my area that are good ones I want to try and get my feet wet with. My problem and question is also a pretty big favor I'm hoping someone can help me out with filling out my forms?? I know how to fill the contract out that I'd have the seller sign, I need help with my double closing form, my contract to end buyer form, and LLC to end buyer. They are all one page so its really not a lot but if someone really wants to do me a favor so I don't screw anything up and look like an idiot in the process. If someone will send me their email I can send them over and if you could just put what would go in it, that would be the most appreciated thing ever! This is probably kind of ridiculous to ask for such a favor, I just don't know who to ask I don't know anyone that has a clue. I have some clue on some spots but some I'm just clueless! Please let me know if anyone can help me.

Originally posted by @Evan Kopczyk:

No, the buyer and seller do not need to be there at the same time. You can schedule them at separate times or schedule them at the same time but ask the closer to put them in separate rooms. Also if you pick the right title company, one that does mail-away closings, the buyer or seller won't even need to step foot in a closing room. Your buyer and seller can have the closing documents emailed to them by the title company for them print off and take to sign in front of a notary themselves. 

And if you don't want the seller to see your assignment fee, you can ask the title company to provide the seller with a "seller blind HUD" or "seller blind settlement statement". This only shows the seller what their closing fees are and leaves the buyer side, the side showing your assignment fee, blank.

 I appreciate the response Evan 

At closing with wholesaling, do the buyer, seller and me all meet there at a set date and time? and if so my follow up question is what's to stop the seller from when he see's my assignment fee of, lets say 8K, from just turning to the end buyer and telling him to buy it directly from him? Could someone give me an idea of what and how it kind of goes down with a basic wholesaling closing goes down? Can I pick separate times for them to both go? Thanks in advance!