Title transfers - Do you utilize a company or self file?

[Natalie Kolodij]

Hey guys, 

I was just curious- on the first mobile I flipped I went downtown and filed the paperwork my self for purchase...which obviously saved some money. But was a huge hassle. 

The next one I used a title company for purchase and sale which cost $450 on each end of my transactions. With the smaller margins on a manufactured (in a park) vs. a normal house flip, I was wondering if there was a way to avoid this expense? 

Or are my options basically...take a day off work to do downtown and file documents...or pay $450 for a title company to do it? 

[Ken Rishel]

Originally posted by @Natalie Kolodij:

@Anthony Angotti I'm not sure I'll have to check! Paying close to a grand on each flip was just kind of a lot coming out of a $10k ish profit. 

@Ken Rishel I'm not sure what you mean by chattel. These are manufactured homes in parks, not on foundation and still titled. 

 That is chattel. There is no real estate involved.

Using a title company for this type of transaction is real overkill. The single most common problem in these types of transactions is forgetting to do the title transfers at the time. The second is not having the proper (state acceptable) power of attorney to handle the transaction. 

In some states, the transfers can be done online.

What state are you in? If you send me an email, I, or one of my employees, will email you detailed instructions for your state.