InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Yes, if you've got the skills, then skip the costs of escrow and title insurance. Posted by Ward-CA- on March 28, 2002 at 8:02 AM In Reply to: closing cost posted by Larry Aldag on March 27, 2002 at 8:01 PM : Hello again Ward, : doing my second pre-forclosure deal,the first still in escrow. : The closing cost are killing me,title search,binder,escrow fees : termite inspections on the buying end then escrow fees again on the selling end. : should i do my own title search,no escrow when buying subject to???and have the seller sign the deed and record it myself???? : feel i'am paying too much for somethings i should be able to do myself. : there has to be a better way..... : not so deep pockets Larry =•=•=•=•=•=•=•=•=•=•= Larry, I happen to agree with you. I figure the transactional costs at about 2% of the sales price of the property. Wow, that amounts to $4,000 on a $200K deal. So yes, if you know how to quickly and accurately search title at the recorder’s office and you know how to fill out a deed, trust deed & promissory note, etc., then by all means eliminate the expenses of escrow and title insurance. However your resale transaction will probably have to employ the normal accouterments of escrow and title because of the sale formality that comes with a buyer’s broker. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hello again Ward, : : doing my second pre-forclosure deal,the first still in escrow. : : The closing cost are killing me,title search,binder,escrow fees : : termite inspections on the buying end then escrow fees again on the selling end. : : should i do my own title search,no escrow when buying subject to???and have the seller sign the deed and record it myself???? : : feel i'am paying too much for somethings i should be able to do myself. : : there has to be a better way..... : : not so deep pockets Larry : =•=•=•=•=•=•=•=•=•=•= : Larry, I happen to agree with you. I figure the transactional costs at about 2% of the sales price of the property. Wow, that amounts to $4,000 on a $200K deal. : So yes, if you know how to quickly and accurately search title at the recorder’s office and you know how to fill out a deed, trust deed & promissory note, etc., then by all means eliminate the expenses of escrow and title insurance. : However your resale transaction will probably have to employ the normal accouterments of escrow and title because of the sale formality that comes with a buyer’s broker. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2002, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455