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Updated almost 10 years ago on . Most recent reply

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Wholesaler and title issues

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Posted

Hi guys have a couple of qns abt wholesalers

Heard there r investors acquiring hses from wholesalers for buy and hold but the problem is most wholesalers have hses with no clear title and purchasing them is taking over the liens 

Are there ways to acquiring from them and have clear title? Do investor have to use a title company to do double closing or generally any title company would do

Any wholesalers with hses comes with clear title?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Yes, you can certainly assure yourself of clear title, and should.  First your contract must state you're getting "clear and merchantable" title. Secondly, using a title co. and get title insurance with the purchase.  This doesn't mean you need to double close.

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