elizabethiam's blog

HI everyone,

I talked to a mortgage officer at a local bank yesterday afternoon. She informed me I needed to talk to an escrow officer at a title company to get information on laws in the state regarding legal means of transfer of ownership. When I spoke with the person at the title company, she informed me that for bank REO's I cannot assign, or do a double close because legally I am required to hold the property for 90 days before I can sell it to someone else. I do not remember this part from class, so I am a little sad as this was going to be my tactic for wholesales. Is the true everywhere? or just in Washington State.