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Updated over 3 years ago on . Most recent reply

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Brian C.
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Wholesale title company

Brian C.
Posted

What title company (that knows what Wholesaling is and knows what they are doing) are you Wholesalers using in Southern California in the Orange County and San Bernardino County areas?

I’m looking for a title company that can also hide the Assignment fee from the Seller, even though the assignment fee will be in the contract?

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Will Barnard
  • Developer
  • Santa Clarita, CA
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Will Barnard
  • Developer
  • Santa Clarita, CA
ModeratorReplied

As Joe stated above, escrow companies handle the paperwork of the contracts between buyer/seller. Title company provides the title insurance, title report, and recording of the grant deed (and deed of trust if there is a loan).

Why are you trying to hide the assignment fee from the seller? Not being upfront and honest in your transactions is not a good way to do business in my opinion. Additionally, if you are locking contracts here and then marketing the property for a buyer for a fee, you are brokering without a licenses here in CA.

I would suggest having your buyer upfront, know what they want and go find that criteria. Then the contract can be made directly in their name with a signed side contract between you or you simply form a new entity naming your buyer as one of the owners and sell your shares for your fee in the end. This is the only legal way to "hide" your fee. Even if you double close, the seller will know once the second recording is complete (if they look it up) as it is of public record what you paid them and then what you immediately sold for.

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