Hi, this is Lou Brown. I’m back with another my 101 cash flow accelerators to help you have a more successful real estate business in a Streetsmart way. Now in this one, we’re in this segment, we’re talking about lending and whether you’re buying, whether you’re holding, whether you’re selling, when you use an attorney, it should always be your attorney.
Now, very often when you’re purchasing a property or when you’re lending, other people will have in the contract where the closing is going to occur and if you don’t attempt to control that, what can happen is you can be in a world of hurt. First of all, the attorney may not understand the contract and the transaction that you’re contemplating far better that you have your own team. So in the contract we always have where the closing is going to be and it’s always our selected attorney. I know that you’re going to have some push back on that. Don’t negotiate that. If you’re the one paying the closing costs, the under the RESPA rules, which is Real Estate Settlement Procedures, Act, the one paying the closing cost gets to choose where the closing is going to occur. So you, regardless of what the contract says, you get to dictate where that closing is going to occur. It should be up to your closing attorney or title company to Duke it out with any other person, regarding that contract because of the law itself. Well, hopefully that’s been helpful to you today. If so, like it. Love it. Share it, and I hope to see you again soon. Yeah Baby!
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