But no money yet. My “partner” would not listen to me and get an llc so there has to be a 3% withholding. That is complicated since my part is not taxed. What a pain. He deserves to wait 16 months to get his money for being stubborn.
He called me and wanted to know how I bought the property so cheap. I gave him a few details but balked when he wanted to get in. I ignored his calls.
The lender would not accept the proof of termite repair and fumigation????? so we had to sign papers that said it was never done. In the settlement report it shows a payment to the termite company so this makes no sense.
Any day now we should close on this rehab. Because of new trid stuff, they bothered me for ridiculous details- like why the termite repair invoice was hand done and not printed. I don’t know if this is a nutty lender or new rules. Getting nervous about using anyone who is not licensed. Has anyone had similar problems?
I LEARNED SOMETHING TODAY.
There are only a few companies that actually issue title. They are Stewart, Fidelity, Chicago and North American. I think that’s all.
However, there are title companies that shop the big guys, like mortgage brokers do, to find the best deal for you. They don’t actually guarantee the title itself. They are like facilitators.