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Updated over 5 years ago on . Most recent reply

User Stats

103
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William Howley
  • Investor
  • Tampa, FL
29
Votes |
103
Posts

Question about Wholesaling in Massachusetts, Lawyer required?

William Howley
  • Investor
  • Tampa, FL
Posted

Hi, I would like to run a marketing wholesaling Campagin in Massachusetts. Apparently some states like Florida the title agency's can complete the entire closing, my friend mentioned to me it depends on the state, can someone tell me if the closing is necessary to be a lawyer who does it? 

If so, does anyone have any good closing agency's or lawyers, that they can suggest, that closes wholesale deals regularly, responsive, fairly priced etc.

Most Popular Reply

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Charlie MacPherson
  • China, ME
4,014
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Charlie MacPherson
  • China, ME
Replied

@William Howley Massachusetts is an "attorney" state, meaning that we don't use title companies here.  We don't allow notary closings, nor do we allow electronic closings.  We allow electronic signatures for every document up until the actual closing, and that requires wet signatures.

We're also a 2-contract state. First a written offer. When it's accepted, we typically open a 10 day window for due diligence. By the end of that window, the P&S is executed. Technically, we can close from the written offer, but that's virtually never done.

Unless you double close, you also need to be licensed to wholesale in Mass.  You can't market a property here unless you already own it.

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