OfflineMatt Larson said its better to use for assigments. But I seen many post here of some students using a Tittle company for their closing. I will liked to know your opinion.
Help me please to clarify this. I just had a call from my first cash buyer, so I need to know this fast.
max
Oklahoma
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Commit to the Lord whatever you do, and your plans will succeed.
Prov. 16:3
"I am talented. I am creative. I am greatley favor by God. I am equipped. I am
well able. I will see my dreams come to pass."
Joel Austin
From what I've studied on the Assignment it's best to use a real estate attorney because they can legally change the name on a contract when you put the cash buyer and seller together. Title companies cannot, and they may even tell you it's illegal.
The attornies I've been going to have even told me that it's illegal, or grey area at best. The reason being, mortgage companies don't like it when the name of the property owner changes within six months of a sale. When told that a cash buyer was involved and the seller was aware of what was going on, they opened up to the idea and said no problem.
The best piece of advice I would offer is to find an attorney who is already familiar with the assignment. But I'm far from an expert on the matter, so keep looking for info. Good Luck!
If only I could remember I put a post up on the forums.
I would go with what Matt Larson says,because he has had much experience in the matter. I am excited for you on your deal.
max
oklahoma
Commit to the Lord whatever you do, and your plans will succeed.
Prov. 16:3
"I am talented. I am creative. I am greatley favor by God. I am equipped. I am
well able. I will see my dreams come to pass."
Joel Austin
Jeremy and I use our attorney, who is pretty slick when it comes to real estate. We pay him to advise us and we trust his judgement. So far so good. I guess it comes down to your own personal choice. He alerted us about a tax lien on a house that we put an offer on. Long story short, he saved us from a bunch of problems coming if we went thru with the deal. Just my 2 cents buddy.....Jan
I appreciate it that. The Title company I am dealing with, is trying to find me a lawyer who is knowledgeable on assigment.
max
Commit to the Lord whatever you do, and your plans will succeed.
Prov. 16:3
"I am talented. I am creative. I am greatley favor by God. I am equipped. I am
well able. I will see my dreams come to pass."
Joel Austin
I always check with the treasurers office to see if there are taxes owed on each property before I make an offer. Lawyers are excellent at finding out information to protect you.
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
max
What I did was call the real estate attorneys listed in the yellow pages and told them I am looking for an attorney who is knowledgeable of assignments. They usually asked me to explain...I tell them I put a house under contract using a basic purchase and sale contract...then I call all my investors and get one of them to purchase my interest in the contract for $$$$. Then they know what I am taking about. Tell them you are looking for someone to handle all your closings. Then they usually want to meet with you and look over your contracts to make sure they are state legal.
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
Now I know what to ask the lawyer. I feel more comfortable to call them with all the information you are providing me.
Thank YOu
Max
Commit to the Lord whatever you do, and your plans will succeed.
Prov. 16:3
"I am talented. I am creative. I am greatley favor by God. I am equipped. I am
well able. I will see my dreams come to pass."
Joel Austin