What Should I Look For When Selecting A Good LSC?
I am looking for a LSC in the Winston-Salem area of NC. What are some of the things that I should look for in a LSC? I have found a few property management companies that collect rents, make payments on all property expenses, keep track of your accounts, provide reports, etc..
Thanks for the help
Houseby
LSC?
Hi housebyr,
I would probably look for ease of working relations. Will they do what you want.
Price should be competative so you don't get overcharged. Figure $100 to $150 for set-up and $5 to $7 per check per month. Check a few.
Are they online to check the account status?
What kind of reports do I get?
How do they make payments to me?
How do they make payments out of my trust account?
I could go on and on, but I think you get the picture.
Best of luck
John (LV)
Hibby,
LSC is Loan Servicing Company which is a third party (escrow) to collect the payments from your buyer and disburse checks to the orig seller's underlying mortgage and other accounts.
Best of luck
John (LV)
Many title companies have a Contract Services department. Such as Ticor Title in my area. You might call up your local title company(s) and inquire as to if they offer contract services.
Chris,[ Edited by cky on Date 09/30/2003 ]