What is Equitable Title? Discover How It Can Help Real Estate Investors
Equitable title. Okay, you are an investor, you already have a seller, you sign the contract. Now when you sign the contract you have equitable interest in the property, because the seller is willing to sell you the property.
You don’t own the property, the seller still own the title of the property, but you have equitable interest in the property. What does that mean? A lot of times, when you are selling a contract or you are wholesaling a deal, you know, let’s say to some retail buyer and you put it on some online classified Craig’s list, some of the buyers are going to call you and ask you: “Are you the owner of the property?”. If you tell them “No, I am not the owner, it doesn’t sound really good”.
You’ll lose their confidence, but you can honestly tell the sellers that you have an ownership interest in the property, which is 100% true, because when you have a contract with the seller, you have equitable interest, therefore you have ownership interest in the property.
So when you are just trying to push paper and a retail buyer asks you if you are the owner, I will say “Hey, I have equitable interest" or "I have ownership interest in the property”. That’s a better way to put it. “I have ownership interest in the property”. Alright, gang, this is Mike with My Real Estate DOJO. If you have any questions/comments please leave them bellow and I will answer them.
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