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Updated over 14 years ago,

User Stats

39
Posts
5
Votes
Danny N.
  • Real Estate Investor
  • Worcester, MA
5
Votes |
39
Posts

Nitty Gritty on REO back to back Closings needed ASAP...

Danny N.
  • Real Estate Investor
  • Worcester, MA
Posted

I'm planning on doing Wholesale REO Flips, Thus will be doing the A - B & B - C Transactions on the same day using transactional funding.

My questions are THESE:

(I) How do I get the Bank to agree for me to use my Title Co. for the transaction(s) ? & is it possible to do so ?

(ii) Is it true that if the Bank agrees for me to use my Title Co., I'll be fully responsible for all the closing costs without sharing with them?

(iii) I plan on using Old School Title to handle the Closing. does anyone have any experience/feedback about them on doing these REO Back to back closings?

(iv) Old School Title told me they'd assign the closing to an Attorney in my state (MA) who they work with for the closing to be done in his office. Since the Closing Agent is supposed to be a neutral Third Party, does this mean I'll need to bring my own Attorney to represent my interests in this same day transaction just in case some issues come up ? or will the Old School Attorney look out for my interest too ?

All the REO Vets and Pros out there, I can't wait for the answers so feel free to share your experiences!