All Forum Posts by: Stanley Bronstein

@Brendan Kortz It's not as much which form you use, but the clauses you add to the form to allow you (as the wholesaler) to do your thing. Just hire an experienced REAL ESTATE attorney to walk you through your first transaction. Even if it winds up costing you $1,000 or so, it's well worth it. It will keep you out of trouble and save you a ton of brain damage.

@Rey Carlo Sunga You're probably going to need to hire an attorney to help you out to prepare the forms you need.

@Jessica Zolotorofe pretty much hit most of the points on the head. I never, ever, ever advise my clients to knowingly violate their loan docs and it's quite probable that a transfer such as what you are discussing would be a violation of your loan docs.

A degree still has a lot of value.  Just don't go hundreds of thousands into debt to get one. @Joe Splitrock gives some good advice.

@Cristina Ruffini If the Seller's agent is not returning your phone calls, call the Seller's broker. They will probably want to know they're not returning your calls. Also, if the Seller's agent and the Property Manager have real estate licenses, investigate whether or not you have grounds to file a complaint with the California Department of Real Estate. That might get their attention.

@Anthony Wick I think  @Charlie Moore is talking about the escrow process as part of the sale / purchase process.

I think you're talking about escrowing for the payment of taxes and insurance.

@Charlie Moore I wouldn't put a percentage on it. I can't speak for the entire real estate world in general.

However, it's used on 100% of the deals I would do and my clients would do.

Hire a lawyer and turn everything over to them. This is an unfortunate, emotionally draining experience and you should let a knowledgeable eviction attorney bear the brunt of this.

@Trevor S Foster I would NOT proceed any further until you get a knowledgeable party involved in the transaction to sort things out. Do NOT give the Seller your money until you have a complete understanding of the situation and you know things are on the up and up.

@Charlie Moore - @Chris Mason explain things pretty well. It's not exactly how I would have explained it (grin), but his example gets the point across quite well.

Escrow protects all the parties involved.

One additional aspect is the escrow company (in real estate deals) is quite often also a title insurance company (or affiliated with a title insurance company) and they will be conducting title examinations on the property and ultimately issuing title insurance when the deal is completed.