I really suggest you interview different title companies and ask them these questions:
1) Do you work with assignments of contract? Does the assignor need to be present at closing?
2) Can you do double closings if they are necessary? If so, can one title search be used for the whole process? (it will reduce your expenses)
3) Do you do â€œdryâ€ closings? (a dry closing is where you donâ€™t actually have the funds to purchase the property, but will be provided the funds by another source the same business day, usually from a 2nd closing)
4) Do you provide lists of NODs, probates, and absentee owners?
5) Will you be willing to provide a discount on volume title searches if all closings take place through them? (typical investor discount is 25%)
6) Can you provide any investor references?... more
If you're going to be flipping/wholesaling houses, REOs may have a stipulation that you can't sell or assign the property within a certain time frame -- sometimes 30 to 90 days. I have yet to come across an auction that places that burden on the buyer.
I"ve also heard of some instances where the banks try to limit the amount you can resell the property for.... more