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Updated about 12 years ago,
Title Companies/Closing Attorneys in GA
I've done several real estate deals (buy and hold) over the past few years and have used a local atty to close them. However, I'm looking to do more flipping and wholesaling and am having a difficult time finding attorneys who will do the types of transactions (namely double closings and accepting Assignments of Contract) I'm wanting done.
I've searched the web extensively and find that there are title companies in Atlanta that do this but I'm in the Augusta area (3 hours away) so I feel that's probably not a feasible or economical solution.
I realize GA is considered an 'attorney' state when it comes to closings and that a title company may still be an attorney (or have attys on staff) but just marketed in a different way (as a title company vs. a lawyer's office.)
Most of the atty's I've talked to tell me "Oh that's illegal now" (false) or one was honest and said that if he did that (double closing, dry-funded) his title insurance company would be highly upset and he could be dis-barred (although I wonder about the dis-barring part..)
I had the brainstorm that maybe I should find a title insurance company that knows how to get these types of things done, then start asking them which attys they work with that may be close to my area.
And on the topic of double closings, the local atty I like to use said that he cannot do a double closing even if it were 'wet-funded' (money present on the A-B transaction) as he would need to wait for the title to be recorded (2 weeks plus) in the courthouse before he could grant clear title to the end-buyer (in this case, the B-C transaction.) This is the main reason I'm looking for another atty as I suspect he either doesn't want the risk (in which I see none really), he wants a second closing fee (good chance) or he doesn't understand how to perform such a transaction (good chance.)
Nonetheless, I need to find someone I can work with and am wondering where to turn to get these deals closed - FYI, I have one AoC (Assignment of Contract) that I may be doing shortly and need to find an atty that will accept this so my end-buyer doesn't have trouble.
Any ideas out there?