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Updated over 12 years ago,

User Stats

167
Posts
19
Votes
Abdul R.
  • Real Estate Investor
  • Piscataway, NJ
19
Votes |
167
Posts

Question about a title agent in NJ

Abdul R.
  • Real Estate Investor
  • Piscataway, NJ
Posted

As a preparation to get started in wholesaling in NJ. I talked to a title agent about wholesaling, their role, contract assignment and double escrow.

He said there is not much role for a title agent in assigning acontract. He added that perhaps he can do the the title work done and this like a bonus to the buyer. But the buyer may have his own title agent and they will do the title work on the property anyway. Can you guys comment on this?

As for double escrow he said these days there are a lot of scrutiny, law suits and so forth, and he is comfortable doing this only as long as all parties involved knows who gets what. Meaning the original seller and ultimate buyer will know how much I will be making. I am not comfortable with that. Is this how you guys do it? I guess based on this I can conclude that this title agent is not investor-friendly and I should look for others?