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Accepting Credit Cards - Dan Zook/NY
9/3/2009 1:07:29 PM (3337 views)
Re: Accepting Credit Cards - Dan Zook/NY
9/8/2009 11:22:53 AM (3635 views)
Re: Accepting Credit Cards - Michelle White/IL
9/8/2009 12:35:21 PM (3719 views)
Re: Accepting Credit Cards - Robert Franco/OH
9/8/2009 1:52:47 PM (3711 views)
Re: Accepting Credit Cards - Jessica Obitz/MD
9/15/2009 8:32:35 AM (3444 views)
Re: Accepting Credit Cards - Dan Zook/NY
9/15/2009 8:58:54 AM (3442 views)

Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/3/2009 1:03:46 AM (3516 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/10/2009 3:53:48 PM (3751 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/15/2009 2:24:40 PM (3711 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/17/2009 1:54:39 PM (5038 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/17/2009 4:24:02 PM (3653 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/17/2009 7:58:09 PM (3742 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:18:49 AM (3823 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 9:27:37 AM (3603 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 4:59:39 PM (3656 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 6:51:17 PM (3557 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 8:57:45 PM (3657 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/19/2009 11:59:07 PM (3584 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 12:11:37 PM (3617 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:11:33 PM (3657 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:08:37 PM (3606 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 12:35:50 PM (3570 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:24:49 AM (3616 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:50:13 PM (3660 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 2:08:51 PM (3608 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/22/2009 12:30:13 PM (3656 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/22/2009 1:18:21 PM (3629 views)

Yes... probably best to let it drop.  If you want to get involved in these types of transactions, go for it.  I'm not telling you what to do.  I'm just saying that, from a title agents perspective, it is a land flip that most knowledgeable title agents will not want to get involved with.

You clearly do not understand there is substantively no difference between B using the proceeds from C to buy property from A... AND... B borrowing money from YOU to buy the property from A with the requirement that the proceeds from the sale to C must be used to pay YOU.  Clearly, with that kind of requirement the A/B transaction is dependent upon the B/C transaction.  The A/B transaction cannot stand alone because you wouldn't loan the money without the B/C transaction already lined up and ready to go.

You need to re-read your post:

The agreement is that this money is used to fund the A-B and then paid back plus fee in the B-C transaction.  If the B-C transaction falls apart for some reason, the title company nullifies the A-B.

"If the B/C transaction falls apart - the title company nullifies the A/B transaction" - This does not describe a "stand alone transaction."  The A/B transaction necessarily depends on the B/C transaction!  A title agent would have to be nuts to agree to close that transaction.  It is clearly a land flip with all of the badges of fraud that land agents in the middle of federal investigations.  It is precisely the type of transaction that we are trained to spot and avoid. 

You clearly have a dollar signs blinding your vision - you want to loan someone money with a large fee FOR ONE DAY!  Like most get-rich-quick schemes, if it sounds too good to be true, it probably is. 

Clanci was clearly correct, you are taking her statement out of context.  Though, perhaps what she should have said in response to your comment ("no one here has experience...and some people have irrational fears") was "It is not fear that prevents us from not doing these transactions, nor is it a lack of experience.  It is past experiences and the laws that govern our business that we follow.”

I don't know how I could make this any more clear... you just don't want to understand.  Clearly you recognize that "each closing has to stand on it's own."  Then you want to contractually obligate the title agent to "nullify" the first transaction if the second deal falls through.  By your own words, the first transaction is dependent on the second transaction, i.e., it does not stand alone.  Your contract would make the title agent a party to a land flip.  Any agent worth his salt would send you packing.

You said:

I didn't really ask for your opinion, I asked for facts about the title business.  But you guys are having difficulty getting the basic facts of my question straight.

You got what you asked for... "My question is just about the details of this contract between the Title Co and the Trans Lender. How is this done exactly?"  You were told that the way you want to structure this deal meets the definition of a land flip and our professional opinion is that we would not get involved.  It is you that does not understand the "basic facts" of your question.  The facts you presented contemplate that the A/B transaction cannot stand alone, yet you insist that it is a stand alone transaction.  You can't have it both ways!    If the A/B transaction is "nullified" if the B/C transaction falls through, it does not stand alone no matter how many times you call it "a stand alone transaction!" 

I'm sorry you didn't like the answer you got.  You are free to go elsewhere and seek other opinions.  Sooner or later you will find someone who doesn't understand land flips and you will get a more favorable response.  Just don't say you weren't warned.

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
10/12/2009 12:28:55 PM (3537 views)

selling searches - edward hartung/OH
8/31/2009 11:04:12 PM (3766 views)
Re: selling searches - Robert Franco/OH
9/1/2009 9:46:54 AM (4015 views)
Re: selling searches - edward hartung/OH
9/2/2009 12:33:07 AM (3974 views)
Re: selling searches - Robert Franco/OH
9/2/2009 8:59:13 AM (3889 views)
Re: selling searches - edward hartung/OH
9/2/2009 10:33:31 PM (3772 views)
Re: selling searches - Robert Franco/OH
9/3/2009 8:49:06 AM (3929 views)
Re: selling searches - edward hartung/OH
9/22/2009 11:52:12 PM (3590 views)
Re: selling searches - Robert Franco/OH
9/23/2009 8:46:40 AM (3541 views)
Re: selling searches - shori ferrell/MO
9/28/2009 11:30:22 AM (3598 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3362 views)

Cleary Title - Robin Ramberg/MI
8/30/2009 8:32:56 PM (4511 views)
Re: Cleary Title - Edward Huguenin/SC
8/30/2009 10:38:38 PM (4853 views)




Abstractor Fees - Tena Grice/TX
8/28/2009 11:40:47 PM (6716 views)
Re: Abstractor Fees - Wendi See/SC
8/29/2009 8:59:05 AM (4983 views)
Re: Abstractor Fees - STEVE MEINECKE/TN
8/29/2009 10:46:09 AM (4507 views)
Re: Abstractor Fees - Tena Grice/TX
8/29/2009 10:00:25 PM (4442 views)
Re: Abstractor Fees - William Pattison /CA
9/8/2009 11:38:32 AM (4022 views)

SOT maintenance notice - Slade Smith/OH
8/28/2009 1:45:08 PM (3012 views)

Abstractor Watchdog - Nils Nelson/ME
8/27/2009 6:32:24 PM (3962 views)
Re: Abstractor Watchdog - Dan Zook/NY
8/28/2009 10:49:19 AM (4461 views)
Re: Abstractor Watchdog - AbstractorWatchdog com/NY
8/31/2009 9:31:00 PM (4279 views)
Re: Abstractor Watchdog - Nils Nelson/ME
8/31/2009 11:07:15 PM (4171 views)

Service 1st Valuation and Settlement Services - VIVIAN SLYKER/OH
8/25/2009 3:16:23 PM (4134 views)
Re: Service 1st Valuation and Settlement Services - Nils Nelson/ME
8/26/2009 7:46:31 PM (5331 views)

Payment - Jana Urban-Buzek/OH
8/25/2009 12:15:50 PM (3791 views)
Re: Payment - Nils Nelson/ME
8/25/2009 1:46:44 PM (4367 views)

Database Designed for Abstracting Companies - James Baker/AL
8/22/2009 10:18:57 PM (3966 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/23/2009 12:59:51 PM (4573 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/23/2009 5:58:02 PM (4446 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/24/2009 12:06:39 AM (4492 views)
Re: Database Designed for Abstracting Companies - john rutledge/VA
8/24/2009 10:40:25 PM (4305 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/25/2009 4:05:41 AM (4203 views)
Re: Database Designed for Abstracting Companies - Heather Seymour/IN
8/25/2009 12:12:25 PM (4327 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/23/2009 5:50:42 PM (4286 views)
Re: Database Designed for Abstracting Companies - Ray Young/GA
8/24/2009 12:30:38 PM (4377 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/24/2009 7:11:09 PM (4174 views)
Re: Database Designed for Abstracting Companies - Jason/WV
8/24/2009 9:45:18 PM (4252 views)
Re: Database Designed for Abstracting Companies - Ray Young/GA
9/2/2009 11:40:35 AM (4156 views)
Re: Database Designed for Abstracting Companies - Janet Angi/MI
9/2/2009 6:52:11 PM (4054 views)
Re: Database Designed for Abstracting Companies - Ray Young/GA
9/4/2009 4:55:10 PM (4096 views)
Re: Database Designed for Abstracting Companies - James Baker/AL
8/25/2009 8:48:50 AM (4097 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/25/2009 10:56:04 AM (4133 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/25/2009 8:22:06 PM (4196 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/26/2009 7:59:36 AM (4175 views)
Re: Database Designed for Abstracting Companies - Dan Zook/NY
8/26/2009 8:23:46 AM (4145 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/26/2009 4:15:04 PM (4305 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/26/2009 4:23:44 PM (4313 views)
Re: Database Designed for Abstracting Companies - James Baker/AL
8/26/2009 2:54:11 PM (4276 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/26/2009 4:19:33 PM (4153 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/26/2009 8:07:58 PM (4167 views)
Re: Database Designed for Abstracting Companies - Kurt deVries/FL
8/27/2009 12:00:11 PM (4258 views)
Re: Database Designed for Abstracting Companies - Ron McPherson/IA
9/6/2009 10:05:26 PM (4020 views)
Re: Database Designed for Abstracting Companies - Eric Batz/MD
9/9/2009 11:20:40 AM (4000 views)

Fico Scores - Jack Johanson/PA
8/21/2009 3:29:25 PM (3463 views)
Re: Fico Scores - Robert Franco/OH
8/21/2009 3:51:57 PM (4034 views)
Re: Fico Scores - Jack Johanson/PA
8/21/2009 4:28:52 PM (4084 views)

Mortgage Fraud the new target! - David Chisolm/MS
8/20/2009 2:51:56 PM (4569 views)
Re: Mortgage Fraud the new target! - Patrick Scott/IL
8/22/2009 1:04:53 AM (4253 views)
Re: Mortgage Fraud the new target! - george Hubka/MI
8/22/2009 3:33:49 PM (4285 views)
Re: Mortgage Fraud the new target! - David Chisolm/MS
8/22/2009 3:48:17 PM (4128 views)
Re: Mortgage Fraud the new target! - Patrick Scott/IL
8/23/2009 2:13:55 AM (4084 views)

A big 'thank you' to the OAITA! - Robert Franco/OH
8/20/2009 9:58:47 AM (4606 views)
Re: A big 'thank you' to the OAITA! - Michaela Urban/OH
8/20/2009 11:27:53 AM (4049 views)
Re: A big 'thank you' to the OAITA! - Joyce Harper/OH
8/20/2009 3:55:10 PM (4071 views)
Re: A big 'thank you' to the OAITA! - OAITA/OH
8/24/2009 10:30:39 AM (6132 views)

A.I.T.F. Retrieval Services - Ray Glowniak/CA
8/19/2009 2:10:55 PM (5003 views)
Re: A.I.T.F. Retrieval Services - Ken Ungarsohn/NJ
8/20/2009 3:05:55 PM (4565 views)
Re: A.I.T.F. Retrieval Services - Ray Glowniak/CA
8/26/2009 12:06:01 PM (4174 views)
Re: A.I.T.F. Retrieval Services - Jamie Stallings/TN
12/14/2009 11:47:13 PM (4029 views)
Re: A.I.T.F. Retrieval Services - na siglio/NY
8/20/2009 4:19:29 PM (4472 views)
Re: A.I.T.F. Retrieval Services - george Hubka/MI
8/21/2009 12:53:46 PM (4640 views)
Re: A.I.T.F. Retrieval Services - Jamie Stallings/TN
1/4/2010 7:56:13 PM (3973 views)
Re: A.I.T.F. Retrieval Services - Valerie Symons/IL
9/7/2010 3:54:55 PM (3974 views)
Re: A.I.T.F. Retrieval Services - Valerie Symons/IL
9/8/2010 10:35:23 AM (3643 views)


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