What are Title company fees?
As a wholesaler, assigning a contract, are there fees associated with the title company that I would have to pay.. I am a newbie obviously and just in the planning stages.. I understand cash buyers pay for the closing of the home and earnest money needs to be sent, but are there any other fees that the "wholesaler" is responsible for with title for opening the title search and what not?
Most Popular Reply
@Jackie F., traditional wholesaling is when there is only one transaction and the wholesaler gets an assignment fee shown on the HUD1.
However, some title companies will not do this (and some states may not allow it), so a double close is performed, where 2 closings take place back to back. The first is from the seller to the wholesaler and the next is from the wholesaler to the buyer. This is sometimes called A -> B -> C transaction.