Question About Settlement Companies...help...
Hi everyone,
I am a new REI and I am starting off by optioning preforeclosures and flipping the contract.
My question is, do I let the settlement company know I'm flipping the deal prior to us closing or do I do it at the actual closing? How complicated is that? I'm taking a course, and the writer says it is not complicated at all, but I just want to know get info from someone who has done this.
Will the settlement company back out when they find out I am not buying the property, but someone else is? How do I collect my fee for assigning someone else the contract?
Thanks guys!
Dee Lewis 
Dee,
Please take this not as law but simple advice. The best case scenario for you is to work with a Realtor or attorney. The realtor is probably cheaper and can be paid hourly as opposed to a full 3%commission. The title company can help but please understand that its not their job. When assigning contracts possibly best to factor in the cost for the agent so that things do run smoothly. Hope that helps.
Thanks, that does help.