Subject to paperwork

[Account Closed]

I'm closing on a property in Douglas County, Colorado subject to today. This is my first sub2 purchase. I'm trying to confirm if a signed POA along with a signed Auth to Release Info sheet is satisfactory for accessing the seller's mortgage in the future?

[Jay Hinrichs]

Quote from @Account Closed:

Quote from @Tom Gimer:

@Jay Hinrichs Regardless of what this TC's website says in the disclaimers, the pricing menu arguably reflects the unauthorized practice of law in several places. And yes there is post closing and servicing included plus loan doc prep, etc. I would think some fine tuning of the content is warranted... not trying to be a wet blanket here but just wow.

I get the impression that as @Jay Hinrichs says, having a TC under an active agent is both a good thing and is also under supervision of the agent/broker. That part I'm familiar with.

What is confusing to me, is that on a Subject To you rarely have an agent involved.

This TC seems to be implying they are independent, like maybe a notary.
They make sure that the paperwork is completed properly before going to escrow. Or, in some cases they take care of the paperwork (explaining things to sellers, getting signatures, closing outside of escrow) to free up the investor to look for more deals.  

I think a lot of these deals are done without title reports, from what I've seen elsewhere. So the TC acts as the one to convince the seller that it's okay to sell using Subto, and act as the escrow agent. I mean it's so simple, right, talk with the seller to get them to sign a Docusign, it's just a few signatures, no money changing hands, what could go wrong.

Ken think of it as a loan processor that works for a mortgage company..  the processor cant quote rates or do the work of the RMLO but they do all the paper work behind the scenes thats what a good TC in the real estate brokerage does.. its quite legal and very much needed by top producing agents like my wife.  TC maybe license or they may not be.. they are independent contractors so no they are NOT under the supervision of an agent.. Just like a loan processor TC have no real direct contact with any clients just with the agent they are supporting.. Its super common even agents that are not top producers use them as the brokerages encourage it.