I’m a newbie and just starting out and want to flip propertys to investors for profits. But first, can anyone answer this questions for me.
Is it better for the seller to provide buyer a title policy or a title commitment with tax certificate to said property? That way the buyer (investor)or his attorney can examine the title before they purchase the property. Any comment would be appreciated. Thanks
The seller’s ability to convey clear title is a given in any sales contract I have seen. If there is a title problem, the deal certainly will not close if a bank or lender is providing the financing, and if you are paying cash, you get to make the call on whether or not to proceed in light of the issue.
As a buyer, a title commitment in advance has never even entered my mind. I know that ultimately, if there is a problem, I can stop the deal.
If you are assigning your contract for cash in advance and your buyer will actually be closing with your seller, however, yes, you would want that title certificate along with a few other documents.
Thank You for replying. Your comments to this issue has been very
helpfull. I’m new at this and recently I’ve been posting messages on different realestate boards with no replys. Next time I shall ask an investor who know. Thank again.
Daniel . Tx