DOES BUYER CHOOSE TITLE COMPANY?

Greetings to you all, I'm a new rookie investor trying to get started in assigning my contracts to buyers. I have everything lined up, but am a bit confused with how I'm going to get my contracts closed. I'm in Illinois and joined the r.e.i club here and I asked one of the investors there what title company could they recommend when I close my deals. That investor told me that in Illinois that when flipping properties you have to use buyers attorney? Can someone give me some suggestions on this matter? www.stgvr@aol.com">www.stgvr@aol.com confused [ Edited by royal12 on Date 03/21/2003 ]

Comments(4)

  • tanya121521st March, 2003

    You are technically the buyer, so you have to get a buyer's real estate attorney. You have to get the title company or closing agent to do the closing. This is a basic understanding, are you sure you are ready to do an assignment of contract?

    Tanya

  • 21st March, 2003

    Hello Tanya1215, Yes I am ready to start assigning my contracts. I'm just getting frustrated. I know I'm the buyer once I sign the contract with seller, I meant when I assign my contract to rehabber/investor Do I have to use there title company? Thank you very much for your concern and would appreciate any help you or anyone can offer. www.stgvr@aol.com

  • tanya121521st March, 2003

    Yes, I know it can be very frustrating when you first start. You should still use the same title company that you use with the seller.

    Tanya

  • 21st March, 2003

    Tanya, I know from all the books, courses and seminars that I should use the same title company to close the complete deal. Like I stated earlier in my 1st statement, This imformation was passed on to me from an rehabber/investor/president of an r.e.i. club who stated that they have been in this business for over 25yrs. Thats why I have gotten frustrated b-cause I was told that in Illinois that you don't use title co. when flipping only attorneys. They also stated that the state of california are the ones mostly using title co. I was o.k. with everything until I heard this imfo from investing club.

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