Deal Update - Need Help - Posted by George(OH)

Posted by Vic on May 07, 2000 at 21:28:52:

It couldn’t hurt to have them start preparing title work.

But are you going to actually buy in your name with a loan, or are you just the middle guy trying to flip without getting a loan?

If you’re buying, with a loan, then yes most definitely get title work going. If you’re just wanting to flip, it wont be that much of an emergency because your buyer is probably going to need some time to get his loan together, which would give you enough time to do title work. The title co. might also want to see a purch. agmt between you & your buyer before they start any title work.


Deal Update - Need Help - Posted by George(OH)

Posted by George(OH) on May 07, 2000 at 15:09:10:

OK, so now I have a signed purchase agreement.

Do I go ahead and contact the title company NOW to schedule a close, before I contact who I’ll be flipping to? I’m wondering because the seller would like to close soon so he can invest the monies from the sale into his heating & cooling business. Most of the investors/rehabbers I have in mind had told me they could close “in about a week”.

I feel as though I’m making REAL progress, and I’d hate to lose this, my first deal.

Thank you all for your help so far.