Today we’re gonna be going over what does a real estate attorney do for a seller? Let’s dive right in.
selling a property can sometimes be a complex process, especially if there’s multiple parties involved. But there are also specific states in the United States that are attorney states that want an attorney involved for a property to closed and where I’m from in Utah. It’s you don’t need it’s not an attorney state. You don’t need an attorney to get a property closer to the title state. But there are certain states out there that do so why is this necessary? Why is it like that? Well, let’s dive right in. I’ll answer that question. What’s the difference between an attorney that represents a seller and an attorney state where the attorney needs to be present? Let’s dive in? And let’s find out if we can find that answer for you right here.
By the end of this video, you’re going to know exactly the difference between a title state in an attorney state and an attorney that helps represent a seller and how that all gets involved and how that affects you as a wholesaler as a real estate investor, and how to navigate that process. And I know it might seem like a lot like oh, man, I gotta learn all this. Look, guys, I’m just gonna be straight with you. I have done deals in attorney States Title states, I don’t know 100%, the legalities of everything, but I know who you need to use and who you need to contact to get the deal done. So that’s really all you need to worry about. Let’s dive in and kind of explain a little bit further. But that’s what you’re going to know. Right in this video if you’ve been having those questions.
Okay, so let’s answer the question about if a seller needs an attorney, and how that can help the seller. So if a seller gets an attorney, usually from my experience in here in Utah, since we’re titled state, and it’s not attorney, state, where you need an attorney to be there at closing, what the seller will do is they’ll say, Hey, let me look at the paperwork you just sent me before I sign let me have my attorney look at it, that’s usually a cop out, they use just because they don’t want to sign or they want to take their time or they’re not sure. But usually, what they would do if they got an attorney is the attorney would have an understanding of the law of the state, you know, the state law of real estate and all that stuff. And they would look at it and they’d be like, Okay, you can sign this, or let’s take this part out. Now, most of the time, when I’m working with sellers, my contract is so basic and plain is just says, Hey, I’m going to purchase your property for cash, you don’t need to catch up your taxes, it’s going to be as is my contracts basic right.
But there’s then you have the state, you know, the contract the rep see that the specific states want agencies that’s a little bit more in depth. So some people instead of read it, and try to understand it, they’ll get an attorney to explain it to them and just make sure they’re not making a bad decision. Now, that’s why someone would get an attorney. And also if you know, properties and probate or if there’s, you know, multiple people involved in selling the property, they might want to consult an attorney. So that’s what an attorney would be for if you’re not in an attorney state where that’s required for closing like in Utah. All right. So that’s different. Now, if you’re an attorney state, you don’t need an attorney to look over your agreement just to be like, Hey, can I sign this?
Now what that what happens is you would send that paperwork, the paperwork that you signed to the attorney to get the deal closed, and they would facilitate everything. Now in Utah, there’s a title state, you’d say the title company, and they run the background check, they get everything, make sure the title is clear, and they take care of it. So there’s just kind of two different ways that states work. I don’t honestly know why they do it. And I could research it and find out more for you. But I would just tell you right now, it’s not that important. I don’t know exactly like the intricacies of like why it’s you know why it’s better to have a title state or an attorney state. All I know is no matter what if you work with a seller, and you you sign a contract that’s simple, like a real estate purchase contract, that’s, you know, as is you send that to the attorney, you know, you’re working with an attorney state or US Senate title company with an escrow officer, they’re going to take care of everything, especially if you have that relationship. Now, if you’re worried about like, oh, man, am I doing things the right way. That’s why networking is so important. That’s why running in the right circles is so important. Because for me, if I’m going to estate, I’ve never done a deal. I’m going to use my network, I’m gonna say, hey, what’s the best attorney to work with in this for my closing, or who’s the best title company, and they’re going to give me the information that’s going to help me feel confident and comfortable.
But look, most of the deals that I do are in Utah, I’ve done deals all over the country. And when I do deals in attorney states, I’ll be honest, I don’t really like it as much. It’s just seems a little different and not as smooth as when I do deals in Title states. But I actually had a conversation with an attorney and an attorney state and it was actually in Georgia. That’s how they do their closings. And I was able to have a conversation that went pretty well. I want you to see how it goes. It’s not something that I’d be intimidated about. But I just wanted you know, in this video that the difference is, you know, with an attorney that’s representing a seller, they’re looking over the paperwork, they’re given advice in an attorney state that’s different than this. They’re helping facilitate the closing. Okay. So I hope I made that clear. Getting counsel and an attorney look over your agreement before you sign and, you know, ask them for advice. That’s not what an attorney state does.
They help with the closing. If you go get an attorney, if a seller gets help from attorney they’re asking for legal advice. You’re not really getting legal advice from the attorney state, you know from an attorney They stay in closing with them. They might give you some advice, but that’s not their job. Their job is to close it. Okay. And if you want to avoid all that, just do deals with me here in Utah, hit me up, you don’t have to worry about that I work with great title companies, escrow officers that make it seamless make it super easy. And that’s why I haven’t had to worry about this. But this is a question I’ve been getting is what’s the difference in how to agents? How do attorneys help sellers? So I wanted to break this down. But let’s dive right in this video of how I worked with an attorney in an attorney state to facilitate a closing that I was working on. Let’s dive right into it. Our preferred title company, title clearing and escrow was freaking give it a call. Let’s get it. We found it. This is a great resource.
All right. 1012. Let’s give him a call. Harlan Florence, hey, how you doing? My name is Nathan Payne. And I’m looking for a title company to work with that is like investor friendly.
Okay, well, only there there are no, I don’t know where you’re from. But there are no title companies in Georgia only attorneys.
I’m sorry. I should rephrase it. I know that but I figured my bad. That’s all we do is investor work, basically. So so I guess I’ll real quick just tell you my story. So I’m from Salt Lake City, Utah, where we have title companies. I’ve done a couple of deals in Atlanta, but I’ve wanted to kind of do more deals there. But before I started working in marketing, trying to get deals to either close or wholesale, I wanted to kind of network with some attorneys out there. So I knew I was doing everything aboveboard and who I could work with. So do you work with wholesalers? And like that, all we do is investor work. Okay, so I just have a couple questions. You have a couple minutes. Sure. Okay. So usually what what we do when we do deals in Utah is we just send in the rep see the assignment to the title company, and the buyer brings the earnest money. And that’s pretty much it, we just have the seller sign and it’s good to go is that kind of same process here in Atlanta. Now,
we actually do a web closing and no escrow closes. Yes, you send in your contract and your assignment and the buyer can send us the earnest money, okay, if you’re not using a real estate broker, and then we’ll run title, we require payment for Title upfront, depending on the counties anywhere from 150 to 250. And then once you get your once both ends are ready to close, we’ll we’ll get it scheduled.
Okay. And what did you call it? You did you say? Wet closing,
you’d have to come to closing and sign the parties have to be here. We’re signed with a power of attorney Georgia requires people to sign in front of an attorney.
Okay, so, Zach count if it’s like a notary or
No, gotta be in front of the closing attorney.
Okay, so how does that work?
You know, we don’t we don’t do notary closings.
Okay, you don’t need to know where you’re closing. So let’s say one of the buyers is from California, how would that work?
Then we’d send them either a POA or an LLC resolution, depending on okay. And then someone here would sign
so our title companies like obsolete you don’t even need them in Georgia at all.
They wouldn’t they would never in Georgia never goes to the closings. The attorneys have a Title Agency.
Got it. Okay. Got it. That makes sense. All right. Is there a title insurance when you do it that way?
Yeah. Yeah, you were you still get a title policy. It’s just that the attorneys have the title agencies. Okay. You don’t have a separate title company and a separate attorney and a separate buyer’s attorney or seller’s attorney.
Gotcha. Okay. Thank you for educating me. I just most of the deals I do are in Utah. So it’s a little different
to Western escrow states,
right. Yeah, I heard a lot of a lot of states are trying to get rid of that as well. But uh, the last question I have for you is, do you happen to know any buyers that are buying at this moment that you’d be willing to give me like put on contact with EPA?
We don’t keep buyers list. That’s all marketing. On the internet. Of course. Yeah.
I just didn’t we don’t we don’t. Yeah, we
don’t keep buyers lists.
I didn’t need like a list. I just didn’t know if you knew anybody specific these like, Hey, I’m really buying right. I’m buying right now. Do you have any hold?
On? No. Right now? No one’s really buying right now. They will say they’re doing right, right 10 closings we have in the next two weeks, they will assign Wow. I don’t know where they’re finding the buyers from.
Yeah, so you’re saying 10 Closing the next two weeks. They’re all the wholesalers that have signed deals 10 buyers that were saying? Okay, well, I mean, if it’s a good deal, I’m sure they’ll still buy but if it’s not, no buyers definitely aren’t going to take that risk right now.
Yeah. Everybody’s got resistance.
Yeah. Well, I appreciate it. I appreciate your time. What’s your name, sir? JD JD. And are you the one that I’ll be talking to if I save your number on my phone? No,
we don’t. Everybody here does everything. We don’t have individuals that work on separate files.
Okay. All right. So everybody works on everything. Do you? Do you have any suggestions or any advice for me as I go and look for deals right now in the Atlanta area, like any area to focus on any area to avoid?
No, I mean, it’s really most of our investors can’t find properties. Okay, metro area. Yeah, cuz of closing more and more out of the metro area, which is very difficult to close.
And how why is that difficult to close outside of the metro area because
people don’t want to drive two hours to come to a closing and then they don’t want to sign a power of attorney. And they think that they, you know, they’re gonna walk away with a check. And we don’t do checks, we do wires.
So you’re saying you have problems with the buyers and the seller, but not necessarily the wholesaler, the seller, the sellers, especially the sellers. Okay, yeah, the buyers probably are fine because they’ve done multiple transactions, probably correct. Okay. And the wholesaler doesn’t need to show up at all. This is all just paperwork in the wired.
know, if you’re assigning we prefer assignments over to closings? It’s much cheaper for you and even that was better for us. Because it’s also much less aggravation for everybody.
Yeah, okay. Well, that’s great news. You’re you’re saying the Atlanta metro area is pretty difficult. So outskirts, but the problem with outskirts is, well, those people are a little difficult to work with and, okay, well, JD, I appreciate your time.
But your people in the outside of Georgia don’t really want to deal without a stagers.
Well, I get it. I’ve actually done a couple of deals. I’ve done one in Winder. I’ve done a couple out there. And it really depends. You just gotta, you know, show them that you know what you’re doing?
Yeah. I mean, it’s, you’re gonna get much more resistance in the out of metro area.
I totally get it. So you’ve obviously seen a slowdown in deals and compared to what you do? Yes. Okay. All right. Well, I appreciate your time. I thank you. Yeah. Appreciate it. We’ll be in touch. All right. Thank you. Sweet. Yeah. So that’s a great contact. So if I get a deal. This is a great guy to work with. And this is, these are great. This is a great resource. I’m going to take this and use this thing sweet. If you liked that video, give me a thumbs up and subscribe and helped me out and we’ll see on the next video.
