Investor Friendly Title Company Phoenix(surrounding cities)?

Question

Good day everyone, just putting some feelers out to the local community in looking for an investor friendly title/escrow company in Phoenix or the surrounding cities(preferably Tempe/Chandler area). I've called one, only one, so far and they handle assigned contracts with full disclosure and double/simultaneous closings however, the one caveat to the double closing option is that they require all parties to use their own money. Translation- me, as a wholesaler, would be required to purchase the property with my own money and then sell it to the end buyer/rehabber. I realize I could probably use hard money here but I want to avoid that if possible unless there is plenty of profit on the table to where the points a HML charges wouldn't eat into the profit too much. First post on here so hopefully I'm posting in the correct area. Thanks in advance!

Chris Nalim · Answer

@Barry Brandenburger Reach out to Victoria Smith Highly recommend. she does my assignments and double closes

Security Title Agency Inc.

4722 N 24th St, Ste 200, Phoenix, AZ 85016

Stanley Bronstein · Answer

@Barry Brandenburger I have done some deals with Security Title (but not that office). They should be able to help you just fine, so I would take @Chris Nalim's suggestion.

Barry Brandenburger · Answer

To clear up any confusion, I was looking for a title/escrow company that: knew how to do both assigned contracts as well as double/simultaneous closings and having the option to use either closing strategy on any given transaction. The first company I talked to, did both options but they required that I pay with my own funding/cash first and then turn around and sell it for profit in the double close scenario. That was NOT what I was looking for. I am looking to get into deals with little or no money down so I was looking for a company that knew how to utilize the funds from a B-C transaction to fund and close on the A-B transaction. This is an example of double/simultaneous close(and is one of the closing strategies/options I referenced above). No where in this particular transaction is an assigned contract used as that is a different option to close on a deal and not used in this example. Today I interviewed a title/escrow company that knows how to do the type of double/simultaneous close utilizing the B-C funds to fund and close both escrow accounts. That is exactly what I was looking for. I hope that makes sense. I am moving forward with this company and here's to the future

Barry Brandenburger · Answer

To clear up any confusion, I was looking for a title/escrow company that: knew how to do both assigned contracts as well as double/simultaneous closings and having the option to use either closing strategy on any given transaction. The first company I talked to, did both options but they required that I pay with my own funding/cash first and then turn around and sell it for profit in the double close scenario. That was NOT what I was looking for. I am looking to get into deals with little or no money down so I was looking for a company that knew how to utilize the funds from a B-C transaction to fund and close on the A-B transaction. This is an example of double/simultaneous close(and is one of the closing strategies/options I referenced above). No where in this particular transaction is an assigned contract used as that is a different option to close on a deal and not used in this example. Today I interviewed a title/escrow company that knows how to do the type of double/simultaneous close utilizing the B-C funds to fund and close both escrow accounts. That is exactly what I was looking for. I hope that makes sense. I am moving forward with this company and here's to the future. Cheers.

Stanley Bronstein · Answer

@Barry Brandenburger Let us know how it turns out. I think what the first title company was telling you was bogus. To me, an assigned contract is NOT a double closing. The only times I've ever had to do a double closing was when the Seller needed to get it out of their company and into their personal name or another company (or vice versa) BEFORE selling.

Since you're on the buying end, it shouldn't matter, provided your contract with the Seller gives you permission to assign the contract AND the Buyer agrees.

Barry Brandenburger · Answer

@Stanley Bronstein  The title company I spoke to did offer to do assigned contracts(with full disclosure) but they wouldn't do a double/simultaneous close(two escrows) A-B and B-C type transaction. I made a few calls since then and found one that said they do both(assigned contracts AND double closings). I will be interviewing them this Thursday. Thanks for the input and response.

Garrick Oconnell · Answer

Just sign up for some local wholesalers list and most there emails include the Title agent and company they use in the offerings.

Stanley Bronstein · Answer

@Barry Brandenburger  Perhaps I'm missing something, but what you just described doesn't make much sense. Is it possible you're misunderstanding the title company. They're essentially saying you can't do a contract assignment prior to closing?

Investor Friendly Title Company Phoenix(surrounding cities)?

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