Title Companies - Updating our CRM list
Updating our CRM list Title Companies Please submit your information ASAP. (Customer Relationship Management) When a real estate wholesaler works with a title company, they need to ensure the process is efficient and protects their interests.
Creating a list of real estate Title Company that are looking to work with wholesalers, on assignment of contract, and or double closing.
Key questions include:
How quickly can you process a title search and prepare the necessary documents for a fast closing?
Can you accommodate an assignment clause in the contract?
What are your fees, and are they competitive?
Do you have experience working with wholesale transactions? double closing, assignment of contract.
Speed and Efficiency:
Wholesalers need quick title searches and document preparation to close deals efficiently.
Assignment Clause: Or Assignment of Contract
The title company should be comfortable with the assignment clause in the wholesale contract, which allows the wholesaler to sell the contract to a final buyer.
Fees:
Wholesalers need to understand the title company's fees and ensure they are reasonable and competitive.
Wholesale Experience:
Asking if the title company has experience with wholesale transactions can ensure they understand the process and can streamline it.
Insurance and Protection:
Wholesalers need to ensure the title company is properly insured and will protect them from any future title issues.
legal terms
PURCHASE AND SALE AGREEMENT Double closing in real estate is a transaction where a buyer purchases a property and then immediately sells it to another buyer, often on the same day. This involves two separate closings: one between the original seller and the buyer (wholesaler), and another between the wholesaler and the final buyer. The wholesaler profits from the difference between the purchase and sale price.
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Assignment of contract occurs when one party, the assignor, transfers their rights and obligations under a contract to another party, the assignee. This process essentially replaces the original party with the new party in fulfilling the contractual duties.
