I live in Phoenix, AZ. I am attempting to purchase some investment properties using seller financing.
Can anybody recommend a good title company to use when doing seller financing? I prefer it is in AZ but I guess it could be anywhere in the U.S. as long as they are a reputable company.
If your property is in Arizona, it must be closed in Arizona as the Note and Deed of Trust (Trust Deed) is specifically applicable to the state law the property is in!
Title insurance can only be issued by a company in the state the property is located in!
I will send you by PM the name and number of a couple of Arizona title / escrow companies I like!
When you are doing the types of “non-retail” activities that we tend to do in real estate investing you need to find companies that are what I call investor grade. These companies may do retail but they also do investor deals. Not a retail guy that will do investor also but does a lot of investors. If not they get into trouble not understanding what is going on and can get you into trouble. I suggest you go to your local real estate investor club meeting and talk to the investors about who they use. http://www.reiclub.com/real-estate-clubs/Arizona.html
Thanks for your responses!
Gold River - I appreciate the knowledge and the contact info of the title companies.
Bluemoon06 - I agree completely. Essentially, thats what Im trying to find, a title company thats good for investing deals.
I talk about investor grade professionals because what we do is not “normal”. If you go to a retail mortgage broker and apply for a loan. He will ask you to list the houses you already own. His little spreadsheet only has a space for 2 or 3 houses. When you say you have 10. His spreadsheet doesn’t work so he starts giving you hoops to jump through while he tries to figure out what to do. An investment grade mortgage broker just asks the next question. The same for title companies. When you start talking to a retail title company about subject to or double close or alternate financing they may have read something somewhere about it but never done it before. Investment grade title companies go right ahead. These investment grade professionals hang around the investment clubs. All of them are not there for example you are not likely to find an investment grade attorney there but the mortgage broker will know the title company guy and the title company guy will know the insurance guy and the insurance guy will know the attorney. But only talk to investment people about investments.
Thanks. I plan on attending some real estate club meetings in the future. Hopefully I can start networking a bit and pick up some more valuable info.
Honestly, I have read a lot on the subject of investing in real estate and done a lot of my own research, and this web site has been more valauable than most everything else combined.