Title Companies & Simultaneous Close...... - Posted by L.A.

Posted by L.A. on October 26, 2000 at 06:38:23:

Thanks !

Title Companies & Simultaneous Close… - Posted by L.A.

Posted by L.A. on October 25, 2000 at 02:51:46:

I had a settlement earlier this week & the title company informed me that they no longer do simultaneous closings.

( I still was able to close the deal…I just picked up a foreclosure…for a very, very good price.)

Their insurer…which is a major one in the country will no longer insure this type of transaction.

Other than using an assignment…I was wondering if any one else has experienced this & how they re-structured transactions to over come this hurdle.

Thanks in advance.

Just a thought - Posted by CurtNY

Posted by CurtNY on October 25, 2000 at 12:01:14:

Why not take property in land trust, then assign the beneficial interest. Only one closing, that means less closing costs and more $$ in Hip National Bank (of course this only works if your talking about selling junkers to investors who have all cash-not end users having to get a loan). Just a thought. Good luck.