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Closing wholesale assignments


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#1 lynie

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Posted 12 August 2017 - 01:30 PM

I do wholesale assignments virtually and am moving into new markets. I've been using a service, an escrow company owned by an attorney, to handle the paperwork. But they're a little pricey and their work can be a bit sloppy. So here's my question: Since I'm just doing assignments (have LO agreements with seller, finding tenant buyer and assignment my seller agreement to the tenant buyer and I'm out), does the "closing" have to be done by a title company or attorney? Could an escrow company do it? Even better, could a licensed real estate agent do it? 



#2 MichaelC

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Posted 12 August 2017 - 01:43 PM

Lynie, if I understand your process then I don't see why you need an attorney, an agent, or a title company involved at all.

You've described what I call a Cooperative Assignment.  Been doing them for 25 years and have never used any of the above to handle the assignment. Why are you?






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