Yes, a title company can close a wholesale transaction. In fact, using an experienced title company is essential for a smooth wholesale closing.
How Title Companies Handle Wholesale Deals
Wholesale transactions typically involve either an assignment of contract or a double closing. The title company needs to understand the specific structure being used:
- Assignment: The title company closes between the original seller and the end buyer (assignee). The assignment fee is paid separately.
- Double closing: The title company handles two separate closings, one between the seller and investor, and one between the investor and end buyer.
What to Look for in a Title Company
Not every title company understands wholesale transactions. Look for experience with investor deals, fast turnaround for rush closings, understanding of assignment and double-close structures, and the ability to handle tight timelines.
1st Option Title and Wholesale Transactions
1st Option Title specializes in wholesale transactions. We understand the structures, work on tight timelines, and close deals quickly. Whether you are assigning a contract or doing a double close, we have the experience to handle it.
Contact us to discuss your wholesale deal.