OfflineThis question relates to purchasing foreclosed homes from banks. Would it generally be permissible by both banks and escrow firms for another name to be added to the title during escrow? This was mentioned by Kimmy in another thread and I was hoping someone could confirm that this is a possible route for wholesalers to assign REO properties.
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I just called some title companies and they said that as long as I have a vesting amendment indicating such, it would be fine. If anybody has anything to add I think many of us are eager to hear it!
That is a way to do it,but some banks won`t allow it. the method is used and taught by a guy who emails I get. and like the title company says,as long as your name stays on the papers most allow it.
I haven't done this yet either, but kimmy even said that if escrow doesn't like it then you ask your buyer to allow you to use their money. then you quit claim the deed to them.
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