Title company does not know what Wholesaling is

[Abraham Lozano]

Prior to finding a property I went to a title company and talked about wholesaling and they mentioned they could help me close. Today I got a property under contract. I was so excited as this was my first deal. When I took the contract to the title company they told me they do not do contract with wholesaling. In order to go through, I would have to pay the amount the seller wants first which defeats the whole purpose of wholesaling. I went to another Title company and the same deal. I live in a small town and those two title companies are the only two in the whole county. What do I do at these points? Any advice?

[Wayne Brooks]

@Abraham Lozano There are two different ways to wholesale....

1- you do an assignment of contract 

2- you do a double close which it sounds like you are trying to do. But, you need to find your own money to close the first transaction with the seller.... you can’t use your buyer’s money (who is buying from You) to pay for your purchase. Most wholesalers use transactional funding for this, will probably cost 1-2%. 
Learn some more.