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J&L in TX - LAWANDA  MCMILLIAN/AR
9/3/2009 9:34:26 PM (3286 views)

Accepting Credit Cards - Dan Zook/NY
9/3/2009 1:07:29 PM (3900 views)
Re: Accepting Credit Cards - Dan Zook/NY
9/8/2009 11:22:53 AM (5313 views)
Re: Accepting Credit Cards - Michelle White/IL
9/8/2009 12:35:21 PM (5680 views)
Re: Accepting Credit Cards - Robert Franco/OH
9/8/2009 1:52:47 PM (5432 views)
Re: Accepting Credit Cards - Jessica Obitz/MD
9/15/2009 8:32:35 AM (4966 views)
Re: Accepting Credit Cards - Dan Zook/NY
9/15/2009 8:58:54 AM (4921 views)

Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/3/2009 1:03:46 AM (4107 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/10/2009 3:53:48 PM (5377 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/15/2009 2:24:40 PM (5378 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/17/2009 1:54:39 PM (6838 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/17/2009 4:24:02 PM (5273 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/17/2009 7:58:09 PM (5378 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:18:49 AM (5413 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 9:27:37 AM (5241 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 4:59:39 PM (5201 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 6:51:17 PM (5184 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 8:57:45 PM (5238 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/19/2009 11:59:07 PM (5227 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 12:11:37 PM (5303 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:11:33 PM (5360 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:08:37 PM (5279 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 12:35:50 PM (5208 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:24:49 AM (5265 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:50:13 PM (5281 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 2:08:51 PM (5498 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/22/2009 12:30:13 PM (5575 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/22/2009 1:18:21 PM (5324 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 (5378 views)

selling searches - edward hartung/OH
8/31/2009 11:04:12 PM (4326 views)
Re: selling searches - Robert Franco/OH
9/1/2009 9:46:54 AM (5801 views)
Re: selling searches - edward hartung/OH
9/2/2009 12:33:07 AM (5808 views)
Re: selling searches - Robert Franco/OH
9/2/2009 8:59:13 AM (5664 views)
Re: selling searches - edward hartung/OH
9/2/2009 10:33:31 PM (5518 views)
Re: selling searches - Robert Franco/OH
9/3/2009 8:49:06 AM (5744 views)
Re: selling searches - edward hartung/OH
9/22/2009 11:52:12 PM (5214 views)
Re: selling searches - Robert Franco/OH
9/23/2009 8:46:40 AM (5254 views)
Re: selling searches - shori ferrell/MO
9/28/2009 11:30:22 AM (5165 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3847 views)




Cleary Title - Robin Ramberg/MI
8/30/2009 8:32:56 PM (5129 views)
Re: Cleary Title - Edward Huguenin/SC
8/30/2009 10:38:38 PM (6692 views)

Abstractor Fees - Tena Grice/TX
8/28/2009 11:40:47 PM (7268 views)
Re: Abstractor Fees - Wendi See/SC
8/29/2009 8:59:05 AM (6983 views)
Re: Abstractor Fees - STEVE MEINECKE/TN
8/29/2009 10:46:09 AM (6438 views)
Re: Abstractor Fees - Tena Grice/TX
8/29/2009 10:00:25 PM (6338 views)
Re: Abstractor Fees - William Pattison /CA
9/8/2009 11:38:32 AM (5873 views)

SOT maintenance notice - Slade Smith/OH
8/28/2009 1:45:08 PM (3413 views)

Abstractor Watchdog - Nils Nelson/ME
8/27/2009 6:32:24 PM (4670 views)
Re: Abstractor Watchdog - Dan Zook/NY
8/28/2009 10:49:19 AM (6302 views)
Re: Abstractor Watchdog - AbstractorWatchdog com/NY
8/31/2009 9:31:00 PM (6203 views)
Re: Abstractor Watchdog - Nils Nelson/ME
8/31/2009 11:07:15 PM (5975 views)

Service 1st Valuation and Settlement Services - VIVIAN SLYKER/OH
8/25/2009 3:16:23 PM (4775 views)
Re: Service 1st Valuation and Settlement Services - Nils Nelson/ME
8/26/2009 7:46:31 PM (7201 views)

Payment - Jana Urban-Buzek/OH
8/25/2009 12:15:50 PM (4417 views)
Re: Payment - Nils Nelson/ME
8/25/2009 1:46:44 PM (6443 views)

Database Designed for Abstracting Companies - James Baker/AL
8/22/2009 10:18:57 PM (4629 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/23/2009 12:59:51 PM (6484 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/23/2009 5:58:02 PM (6402 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/24/2009 12:06:39 AM (6474 views)
Re: Database Designed for Abstracting Companies - john rutledge/VA
8/24/2009 10:40:25 PM (6246 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/25/2009 4:05:41 AM (6165 views)
Re: Database Designed for Abstracting Companies - Heather Seymour/IN
8/25/2009 12:12:25 PM (6216 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/23/2009 5:50:42 PM (6210 views)
Re: Database Designed for Abstracting Companies - Ray Young/GA
8/24/2009 12:30:38 PM (6338 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/24/2009 7:11:09 PM (6100 views)
Re: Database Designed for Abstracting Companies - Jason/WV
8/24/2009 9:45:18 PM (6142 views)
Re: Database Designed for Abstracting Companies - Ray Young/GA
9/2/2009 11:40:35 AM (6028 views)
Re: Database Designed for Abstracting Companies - Janet Angi/MI
9/2/2009 6:52:11 PM (5878 views)
Re: Database Designed for Abstracting Companies - Ray Young/GA
9/4/2009 4:55:10 PM (5961 views)
Re: Database Designed for Abstracting Companies - James Baker/AL
8/25/2009 8:48:50 AM (6041 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/25/2009 10:56:04 AM (6139 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/25/2009 8:22:06 PM (6049 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/26/2009 7:59:36 AM (6107 views)
Re: Database Designed for Abstracting Companies - Dan Zook/NY
8/26/2009 8:23:46 AM (6054 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/26/2009 4:15:04 PM (6217 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/26/2009 4:23:44 PM (6189 views)
Re: Database Designed for Abstracting Companies - James Baker/AL
8/26/2009 2:54:11 PM (6183 views)
Re: Database Designed for Abstracting Companies - Wendi See/SC
8/26/2009 4:19:33 PM (6023 views)
Re: Database Designed for Abstracting Companies - STEVE MEINECKE/TN
8/26/2009 8:07:58 PM (6049 views)
Re: Database Designed for Abstracting Companies - Kurt deVries/FL
8/27/2009 12:00:11 PM (6120 views)
Re: Database Designed for Abstracting Companies - Ron McPherson/IA
9/6/2009 10:05:26 PM (5843 views)
Re: Database Designed for Abstracting Companies - Eric Batz/MD
9/9/2009 11:20:40 AM (5848 views)

Fico Scores - Jack Johanson/PA
8/21/2009 3:29:25 PM (4063 views)
Re: Fico Scores - Robert Franco/OH
8/21/2009 3:51:57 PM (6026 views)
Re: Fico Scores - Jack Johanson/PA
8/21/2009 4:28:52 PM (6089 views)

Mortgage Fraud the new target! - David Chisolm/MS
8/20/2009 2:51:56 PM (5324 views)
Re: Mortgage Fraud the new target! - Patrick Scott/IL
8/22/2009 1:04:53 AM (6198 views)
Re: Mortgage Fraud the new target! - george Hubka/MI
8/22/2009 3:33:49 PM (6217 views)
Re: Mortgage Fraud the new target! - David Chisolm/MS
8/22/2009 3:48:17 PM (6086 views)
Re: Mortgage Fraud the new target! - Patrick Scott/IL
8/23/2009 2:13:55 AM (5927 views)

A big 'thank you' to the OAITA! - Robert Franco/OH
8/20/2009 9:58:47 AM (5512 views)
Re: A big 'thank you' to the OAITA! - Michaela Urban/OH
8/20/2009 11:27:53 AM (5957 views)
Re: A big 'thank you' to the OAITA! - Joyce Harper/OH
8/20/2009 3:55:10 PM (6252 views)
Re: A big 'thank you' to the OAITA! - OAITA/OH
8/24/2009 10:30:39 AM (8311 views)


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