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I have a simple question for you experienced wholsalers out there. Once you got a property under contract, do you have a title company all lined up to get a pre-lim, or do you just let the investors check title themselves? Also, are your investors paying you immediately for the contract, or are they waiting to close?
And are there any wholsalers in SoCal to help me get started?? Appreciated! 8)
In the three I’ve done, I have found the title company to be a valueable asset.
Take the contract to title and open escrow. Get the account number and give it to the buyer get the earnest deposit. Title company and the loan officer take it from there! Fees are nominal and well worth it. Also the title company can help in other areas, they can give you free “listing” packets and sometimes they even have an eye on the county auctions.