All Forum Posts by: Shelby Crowder

This is what I was guessing the reason for the hold up was as well. We always try and get things closed through one title company because the process is simpler, however, both seller and buyer are set on their title companies and won’t switch. The closer is incredibly rude to us as well, and based on their facebook page ratings this is a normal occurrence for them. We called the VP of the company discussed this issue with them but its been a day now and still no contact from the closer on when we can expect to close.

Quote from @Caleb Brown:

In my experience some title companies don't work wholesale deals, maybe that's why. They should tell you what the hold up is or if there's an issue. Typically everyone would use the same title company on a wholesale deal. Are you guys able to switch and use 1 title company?

0 Votes

Little Rock, Arkansas

We have an on market wholesale deal with an addendum for closing to be yesterday, that was signed by all parties. Unfortunately the seller was set on a specific title company, as was the buyer for a different title company. We thought everything was going smoothly until we got a message day of closing that seller’s closer at their title company was not even working that day. So we were annoyed but whatever, until we called today and she refuses to schedule closing or tell us any idea of when she plans on scheduling it. We know that everything came back good on title and its ready, but this closer won’t schedule it and honestly seems like she’ll just keep doing it to annoy us. Is the closing addendum in the contract legally enforceable to a title company? Or what can we do to get this deal closed?

1 Vote

Little Rock, Arkansas

We definitely see that now. Since we have a good relationship with our initial buyer we trusted that their friend was an actual buyer. And yes, the agent and seller knew from the beginning we were wholesaling this deal. We never lied to them and they were fine with that.

Quote from @Bill B.:

You understand all the lying that went in during this transaction? Even your “Buyer’s friend” was lying when he said he was just waiting on a hard money approval since he obviously never planned to purchase and was instead a wholesaler. Did you by chance tell the seller or either agent that you were “waiting on an approval” or did you tell them day 1 you didn’t have any money but simply planned to mark up their sales price and profit off them?

0 Votes

Little Rock, Arkansas

Hello everyone,

I’m looking for a solution to an issue. We have an on market property owned by a hedge fund in Little Rock under contract that we have been trying to wholesale. We pushed closing because our buyer could not get approved for more cash until April. The agent said we could push closing but they are charging us $75/per day that we push. The agent came to us yesterday and said they have to know what the plan is and close this week. We let our buyer know this and he had to unfortunately back out. He sent us to his friend who was on board to close as soon as he was approved from his hard money lender. Well, his partner accidentally shopped it out to the owners of this property when trying to wholesale it without letting us know and the owner and agent demands it closes today. We will take anything for this property to try and salvage the relationship with the agent and hedge fund. We got it locked up for 122k.

Address: 2020 S State St

Reno: $40,000

Listed price: $139,000

Arv: $255,000

Thank you for your time!

0 Votes

Little Rock, Arkansas

All Forum Posts by: Shelby Crowder

Shelby Crowder has started 2 posts and replied 4 times.

Post: Title Company Holding Up Closing - Is this allowed?

Post: Title Company Holding Up Closing - Is this allowed?

Post: Agent says we must close TODAY

Post: Agent says we must close TODAY