Title Company Questionaire?

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Title companies can be tricky but what I learned is to go to the source for whoever is the decision maker in actually processing the transaction of a deal.

One great way to find title companies is to ask every investor buyer which title company they use so for one you know it's an investor friendly one and two you know that buyer actually closes deals most likely. lol

When you do start calling title companies in your area ask for the closing officer and or even the closing attorney and try your hardest to ONLY speak with that person. Remember most people will tell you assignment of contracts or double closings are illegal. Well in a sense they are right. Because THEY DONT HAVE THEY AUTHORITY to do the actual closing so yes it is illegal for that person. But it's NOT illegal for a closing officer or closing attorney to do this for you.

So once you talk to the title company ask them these simple questions.

1. I'm an investor in the local area looking to build a relationship with a local title company, one of my exit strategies for some of my deals is an assignment of contract and double closings, you do handle those right?
*Always make the assumption they do so you'll know in two seconds if they know what you're talking about.

2. How much are your fees?
*so you know what kind of expenses to add to your formula when negotiating a deal.

3. Can you send me a copy of your closing instructions? Also, I have a copy of my contract I can send to you to verify that it is okay with you I use my own approved contract.
*you want to be sure how to proceed with them when you get a deal in place and if they even will be okay with using your contracts! Imagine if you got a deal worth $13,000 big ones only to find out they won't use your contracts only the state approved ones? Ouch now you gotta redo everything. Hopefully. Also DO NOT send just your sales agreement to the title co. Right away when you find a deal, because then they'll start charging you $400 to pull the title work when you don't even have a buyer yet! What if they house has liens or other parties involved? Yikes.

These three things honestly helped me get everything I need to know. They'll ramble on even how they started and might invite you in for a cup of coffee. Who knows.

I may be missing something but this helped me the most.

I have a file somewhere of the questions. Perhaps someone else knows where it is located though. Meanwhile I'll try to find and send it. Tammy

Adam

I will ask at the next Real Estate Investor meetings......

Tammy

Thank you so much in trying to locate those questions and I have not forgotten about the DBA and compliance we spoke about.....

By the way Tammy / Adam in Insider elite I found an intro letters to different power team members, have you guys used them or no?

I am not really sure what you are asking???

Tammy if you go to DG insider elite

Product library

Then select RE Letters and Docs

Then when the page opens go all the way down to a Team Members Letters

Have you used this for Title companies?

No I haven't used it yet, but probably Dean and his team have. Why not give it a try.

I will Tammy