why dont people go to a escrow company to handle the paperwork for a sub 2 deal Is that a bad idea for a beginner to learn the ropes and why thank you all
It is certainly possible to do that, but you'll have to find an escrow company that understands sub2. I spoke to a few here when I was starting out last year and most didn't understand it well enough and said they didn't want to touch them (reinforcing the saying that a confused mind always says no!).
Some of them said they understood it, but didn't like the idea of you not assuming the loan directly from the lender--they didn't want to be a party to that and said no.
If you find yourself explaining in extreme detail what you're trying to do, they don't understand sub2--move on until you find one who does. Or find a good sub2 course that teaches you how to close a sub2 deal yourself (John Locke's course comes to mind, as that's the one I'm working from).
Comments(0)
It is certainly possible to do that, but you'll have to find an escrow company that understands sub2. I spoke to a few here when I was starting out last year and most didn't understand it well enough and said they didn't want to touch them (reinforcing the saying that a confused mind always says no!).
Some of them said they understood it, but didn't like the idea of you not assuming the loan directly from the lender--they didn't want to be a party to that and said no.
If you find yourself explaining in extreme detail what you're trying to do, they don't understand sub2--move on until you find one who does. Or find a good sub2 course that teaches you how to close a sub2 deal yourself (John Locke's course comes to mind, as that's the one I'm working from).
Andy