Title company says no assignments

[tbodley74]

I was looking for a title company in my area that will allow investors to get paid assignment fees. I only heard of one title company from the local REIA that I thought I would allow assignments. I called them up and asked about this. They said no assigments. Do you know of any other title companies that will allow assignments at closings in any state? I need an investor friendly title company in Alabama that will allow this to happen.

[Real Estate Seller]

You need to used the word service fee. NOT assignment fees

[tbodley74]

I have only heard  about the word assignment fee being used, not service fee. What's the difference between the two words and why say service fee as opposed to assignment fee like everyone has been saying?

You need to used the word service fee. NOT assignment fees

[Real Estate Seller]

Assignment fee and a service fee is the same but worded different. Just remember you are getting paid on the HUB at closing.

[Bay Area Brian]

Every now and then you have to change the name to make someone dense understand what your doing, so in one area I needed to change the name to release of interest in escrow, and adding them to the deal on paper thru a purchase agreement for the purchase of equitable interest, which was really just an assignment but some escrow people are stuck in a mental rut.

But all of my contracts to purchase nowadays say my name and et al. and vesting to be determined in escrow. Assignments are used all the time in all kinds of business deals so it isn't like some kind of new thing they are not familiar with, but probably some hack attorney wants it to look like he is earning his money, and sees all kinds of monsters under the bed.

[tbodley74]

I am the kind of person who likes to call things exactly as they are without having to make plain simple words sound so fancy.  I hate when people do stuff like that. I noticed people do the same thing with job titles. It could be the most simplest name for a title, yet they go over the top. It is funny how people are like that.  I know every now and then we have to change names to help dense people catch on. For me I have never been the one who likes to sugarcoat anything. It is what it is.

Every now and then you have to change the name to make someone dense understand what your doing, so in one area I needed to change the name to release of interest in escrow, and adding them to the deal on paper thru a purchase agreement for the purchase of equitable interest, which was really just an assignment but some escrow people are stuck in a mental rut.

But all of my contracts to purchase nowadays say my name and et al. and vesting to be determined in escrow. Assignments are used all the time in all kinds of business deals so it isn't like some kind of new thing they are not familiar with, but probably some hack attorney wants it to look like he is earning his money, and sees all kinds of monsters under the bed.

[Real Estate Seller]

I guess why so many new investors are having problems with assignments is that they try and do business with well know title companies which do not know how to pour piss out of a boot with directions on the heel.

[Bay Area Brian]

I am the kind of person who likes to call things exactly as they are without having to make plain simple words sound so fancy.  I hate when people do stuff like that. I noticed people do the same thing with job titles. It could be the most simplest name for a title, yet they go over the top. It is funny how people are like that.  I know every now and then we have to change names to help dense people catch on. For me I have never been the one who likes to sugarcoat anything. It is what it is.

People and things that don't have a tendency to bend often break. Spend your time trying to move a ten ton boulder by running into it often and hard is not my cup of tea, better to just walk around it unless your carrying several sticks of dynamite, and why waste the dynamite.

[GOD WNZ]

Good evening tbodley74,

Get a new title company.  Your job as an investor is to put people on your team who can do what you need done, above board, straight forward with no gray area's.

Interview in person with all the Title co's in your area and find some one you can work with, and better yet who will work with you to get the transactions done with an eager legal and can do attitude.  When you find this person and you will treat them very well.  Example:  Clear this with their boss first as I did...give them a thank you card stuffed with cash!  Gift cards to some of the local stores you know they use(cause you have a relationship with them and you Know these things now)

 Do it everytime you do a transaction and you will be amazed how you will now be able to walk into the title co with a deal you want closed by the end of the month...and today is the 20th.  Guess whos deal gets pushed to the front of the line.  I pay my lead title girl $500 and her assistant $3-400 depending on Every transaction !   Mind you I did prove my integrity and All transactions are required by me to be straight forward, above board and no gray areas.  I did bring in my contracts to them in the early days for them to review and have their legal council review them for approval.  Changes were made, I received an education , and we all win..

   Once they learned I was not trying to take advantage of anyone then they were glad to see me,  the system was in place and then I payed well to get them done quickly.

Hope this helps,
Darin

[tbodley74]

I found a different title company. They may be long distance but I found them and they say they can do assignments with wholesalers.

Good evening tbodley74,

Get a new title company.  Your job as an investor is to put people on your team who can do what you need done, above board, straight forward with no gray area's.

Interview in person with all the Title co's in your area and find some one you can work with, and better yet who will work with you to get the transactions done with an eager legal and can do attitude.  When you find this person and you will treat them very well.  Example:  Clear this with their boss first as I did...give them a thank you card stuffed with cash!  Gift cards to some of the local stores you know they use(cause you have a relationship with them and you Know these things now)

 Do it everytime you do a transaction and you will be amazed how you will now be able to walk into the title co with a deal you want closed by the end of the month...and today is the 20th.  Guess whos deal gets pushed to the front of the line.  I pay my lead title girl $500 and her assistant $3-400 depending on Every transaction !   Mind you I did prove my integrity and All transactions are required by me to be straight forward, above board and no gray areas.  I did bring in my contracts to them in the early days for them to review and have their legal council review them for approval.  Changes were made, I received an education , and we all win..

   Once they learned I was not trying to take advantage of anyone then they were glad to see me,  the system was in place and then I payed well to get them done quickly.

Hope this helps,
Darin

[Real Estate Seller]

I found out that good old hard cash work all the time and you go to the front of the line.

[GOD WNZ]

No kidding Real Estate Seller,
Its great.
I have walked into her office 6 days before the end of the month and she got my deal done.  When I go out to water the horses here they all come running because they also get a sugar treat and the title team does the same thing for cash treats!

Enjoy,

[Real Estate Seller]

You are right 100%. When I turn the corner in my 1978 Pinto they drop everything and start running to sweet daddy because they know i am bringing sweets treats and a baskets full of green stuff.

[GOD WNZ]

Nice..

My wife has been threatening me with the fact she wants a pinto wagon!!

[jimb6387]

If you can't find a title company that will accomodate you .. then you may want to use transactional funding. Usually costs 2-3%. The funder buys it with their money at your negotiated price from the original seller and then sells it to your end buyer at that agreed price
Obviously this is not the best of choices, it is better than no deal at all.