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Updated about 14 years ago on . Most recent reply

CLOSING ( I NEED HELP PLEASE)
Ok simply put I have been doing several deals the easy way I have been finding deals and bringing them to a mentor of mine who was splitting the fee with me and he would handle the technical part now that I am doing my first deal on my own I need help with the final process
1.) I already found the deal and buyer
2.)I have the contracts written and signed
But now what? Should the Buyer be responsible for finding the title company so that we can close?
what should happen next please help me I dont want to mess this up and in my mind this is a huge step in my investing career i will be independent
Most Popular Reply

As Kevin shared, the "technical" part is really the easiest part of wholesaling.
The next step is to take your contracts to a title agent to get the title search and closing process moving forward. The title agent will hold your hand through everything else.
I would go back to the same title agent. That title agent is obviously comfortable with assignments or double closings and that isn't common. I doubt they will ask you for the deed, but your corporate papers will be required. You wouldn't need anything else other than the contracts to start the process.
I would not let your buyer pick the title agent, and I would recommend that you stay very active in the whole closing process. Its your money at the end of the road, and you need to be ready to do whatever you need to do to make this whole thing get there. Now you are a babysitter. A well paid one (hopefully) but a babysitter nonetheless.