Wholesaling Concern
I have a question about wholesaling properties in and around the Bay Area, California. My concerns are that I've spoken with lawyer and escrow companies. They assure me that I cannot close through a title co. I have to go through an escrow company to setup closing. The escrow company I've dealt with thus far is more than willing to do a double closing but cannot do a simultaneous closing as they want me to take title to the property first, record it, then close the next day with my buyer. I would have to put up a large deposit (in 5-10 thousand $ range) to start escrow. Does this sound right so far? Am I wasting my time going in this direction or is there a better way? I am more than willing to research what is necessary, I just want to be sure I am on the right track. I do not wish to put up large deposits unless there is no other way. Your advice would be GREATLY appreciated.
Thanks,
If it were the only way, wouldn't it still be worth it to put up 10k to get 20K back in just a few days?
I would recommend locating an attorney that does only real estate and you should be able to do simple assignments thru this attorney.....
The attorney's office will handle everthing from ordering title to clearing title if possible.
Just my 2 cents....