Finding Wholesale Friendly Title Companies

[Kevin Quinn]

Hi everyone-  New to the website but highly interested and motivated to get involved in Wholesaling.  How do others go about finding Wholesale Friendly title companies?  Can you alternatively use wholesale friendly real estate lawyers?  

Thanks-

Kevin

[Bill Gulley]

The issue with double closings is to points brought out by ALTA as to having good title before passing title, if the first buyer doesn't have good funds available to close they are not paying consideration.

I suspect that if there is any issue with assignments, it's a local bias. Title companies do a lot of business with Realtors and Realtors may be raising heck about investors acting as agents, a title company gets business from Realtors and they may be avoiding the issue.

Assigning a contract is not illegal anywhere that I know of, I'd think I could probably go to any title company as an end buyer with an assigned contract and close it, it might be how I explain my deal, how I justify it and present it. The other thing is that all parties will be aware of everything, with wholesalers always trying to hide fees and mislead owners, it's no wonder title companies chase these types off. It's not the assigned contract that is the issue, it's probably more to how that contract was obtained, the intent, meeting of the minds, failure to disclose and the lack of good faith dealing in creating that contract.

BP is full of "How can I find an investor friendly...." all by newbies who are following guru junk. Ever think maybe it's the guru junk you might be trying to do?

All RE attorneys, title companies, Realtors and lenders are investor friendly, they all love investors, real investors and those that know how to use conventional means even if they are used creatively. They aren't the problem, it's the know nothings trying to do screwy deals that's the problem. There isn't any investor strategy used that can not be accomplished with conventional methods.

Want to do a double closing, take title and then immediately sell the property?

Easy, have the seller take a note and deed of trust for the full price with a call feature in the note, due on demand, close the deal, then sell obtain the money and payoff the note. That is a conventional and accepted method of doing either settlement! No title company can have issues with that! But gurus don't teach that I guess.

Again, the problem is that new investors don't learn the basics of real estate, they dive into gimmicks, strategies and methods of how to make money then try to figure out why things don't work out for them.      

To end this rant, know that in most communities everyone who makes a living in real estate and related activities have professional relationships, even those that compete for business have working relationships. When it gets down to it, all attempt to weed out bad apples, those they see that don't fit in to local customs. All professionals are public minded to some point, they will not participate in something that they may view as messing over the public. If you expect to deal with those that hold licenses, who are under regulatory restrictions, bonded, insured, hold to standards of ethics, then I'd suggest you learn what why and how they do things. :)