Quick question, gang;
Does the wholesaler perform the title check or does the end buyer?
Im anxious to see more responces to this. My opinion, if im the wholesaler, I do the title search so i know what im giving the end buyer is a good product and they can make money on it otherwise they will never buy from me again
I work for a national wholesaler and we do title checks on everything we sell. The main reason we do this is to prevent our investors from taking possesion of a property that has title problems. You will lose a lot of business if your investor goes in blind and then has costly trouble when it comes time to resell.
You will definitely want to do the title check since you need to confirm that there are not any other liens against the property that the seller has not informed you on. It could come out your dime at closing too.
Get yourself a Title company that will run these for you and if you do your business with them moving forward, then you can either probably get them for FREE or at a discounted price.
It is always the responsibility of the end Buyer to do the title search. They are the ones that will be taking title and thus must insure that the title is clear. Even if the wholesaler does a title search, the end buyer will always perform one when they buying the property.
That is why title insurance exists. It offers protection for both the lender and the buyer about any title defects that maybe found latter.
If the wholesaler will be buying the property, then they will perform their own title search at the time of the purhase. Bottom line is the person or the entity that will be making the purchase will be the one that will be performing the titile search.