Contracts, Closings, and Title Insurance with Jeff Parmer

ROI Wealth Watch

Jeff Parmer is an attorney who specializes in real estate closings. He graduated in Auburn University and went to the University of Alabama for law school. He has always shown his competitiveness in his youth, and it showed when he got accepted to clerk for the Alabama Supreme Court, which is considered a prestigious appointment. Today, he closes anywhere from 2000-3000 transactions per year and has an AV rating on Martindale-Hubbell, the highest rating given by fellow lawyers.

In this episode, Jeff provides answers and clarifications about contracts and gives us reasons why they shouldn’t be feared. He explains the various terms we need to look out for when reviewing and signing contracts, as well as provides sound advice on what buyers should do in any kind of non-satisfaction.

“You want every agreement to be expressed in either a contract or in an addendum to the contract.” – Jeff Parmer

In This Episode of ROI Wealth Watch:

• How contracts can vary from state to state.
• Why Alabama is called the "Buyer Beware" state.
• Typical time frames for due diligence and types of due diligence.
• How do you make sure you're protected in any situation?
• The general condition on getting your earnest money back.
• The information you need to have when it comes to right of redemption.
• What is the "Buyer's estimated costs sheet"? Why is it important?
• The difference between escrow and table funding, and other types of funding.
• What is Title Insurance and why do you need it in real estate investing?
• Tips on what a buyer should always consider.

Wealth Watch Words of Wisdom:

1. Using a title attorney is a cost-effective means of limiting and mitigating any legal risks of real estate investing.
2. Don't fear out of state closings. Understand the process and get ahead of it.
3. Use title insurance to protect your assets. It's an inexpensive way to be sure surprises are avoided.

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