Investor Friendly Closing Agents In Spokane, WA?

[Bryanna Mendoza]

I was curious what title company, specifically in Spokane/Eastern WA is familiar with assignments/double closings...or what one you would use to wholesale and had a property under contract. I'm calling around and every company that I've called seems confused on what I'm talking about or claims it's illegal...which, obviously it's not. I don't have any properties under contract yet, just looking to build my team. Any suggestions? Thanks guys!

[Gerrit Harner]

hi Bryanna

Glad to see your still following your dream.

The title companies that are saying it's illegal are referring to the Dod Frank rules that were adopted after the crash, not many fully understand them, so they use a broad interpretation. Anyway on an assignment of contract they are not really involved. Your buyer will be the one closing. And a double close is exactly that two separate closings. First you close on the property, then you sell it to your buyer, a compleatly separate closing. You have to pay the closing costs twice. The only time that there is any special consideration by the title company is if you want to use your buyers money to close your purchase, this is known as a wet close, and not real common here. That is why the company's you've talked to seem confused. Sorry I can't recommend any for you as I've not needed to do a double close, and everything else has beenot handled through the Team Invest Pro community. You are always welcome to contact me if there is anything you have questions with.

Best of luck with all your endeavors.