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Proof Of Funds

 
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Old 01-20-2018, 10:38 AM   #21
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Re: Proof Of Funds


Quote:
Originally Posted by AllanE View Post
Your link is when a lender is involved and they want update on title, not a cash buyer as is being discussed. When a lender is making a loan on construction, they disburse draws, not title company.
You are woefully ignorant.

I gave you a whole google search to read from. You don't know. Just face it.

The title company does not care who is going to them to escrow/disburse funds. They want their piece - that is all.

Come back when you speak from fact.

The fact that you even looked at that page tells me you have no first hand experience with title companies and range of fiduciary instruments they offer.

smh
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Old 01-20-2018, 10:42 AM   #22
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Re: Proof Of Funds


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Originally Posted by DaVinciRemodel View Post
In 2004/2005 we did a $1.2mil project. The client was great for the first $1mil. Then filed for bankruptcy with me holding $191k of bad debt. What they have today is not a representation of what they will have tomorrow or at project completion.

Unless the funds are in escrow, the exercise seems to be a waste of time.
And your situation is precisely the reason I would have chosen a title company to manage escrow and disbursement.

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