Notarizing docs via Fedex - Posted by mattc

Posted by Kristine-CA on September 25, 2003 at 21:29:31:

I don’t know of any negatives–I just wouldn’t bother. But that’s just me. Sincerely, Kristine

Notarizing docs via Fedex - Posted by mattc

Posted by mattc on September 25, 2003 at 09:42:52:

This is a simple question - but I have never had
to do it before…

I have a Seller who is motivated, and has moved
several hours away from his property.

If I want to put it under contract via an option, and
have the option agreement signed by both myself and
the Seller - and notarized, is it possible for
me to sign it - FedEX to him - and have him sign
and notarize his signature remotely, then Fedex back
to me?

Getting him to drive down may be fairly difficult.

Thanks in advance,

mattc - mi

Re: Notarizing docs via Fedex - Posted by Jim FL

Posted by Jim FL on September 25, 2003 at 21:13:11:

Matt,
Is it safe to assume that your document is on your computer?
If so, just take the notary section, and copy/paste another one on there.
Instruct the seller in writing, along with post it notes, as to where to sign, and where the notary where they are signs.
And of course, to send it back, in the prepaid return package you are sending.

Once back, THEN you sign, and have your local notary notarize your signature.
Each party will have a notarized signature, just different notaries, and different dates.
Maybe add a line in your agreement, if does not already have one, that it becomes effective from the date of the last signature.

I do not recommend sending signed docs out, just getting them back.
What is the seller drags their feet, and holds the thing? with your signature on it?
I just don’t like that feeling, so take control, and sign upon return.
You can always fax a final copy to the seller.
Besides, this way YOU have the original in hand.

Good luck, and HTH,
Jim FL

Re: Notarizing docs via Fedex - Posted by roger

Posted by roger on September 25, 2003 at 15:10:06:

is the profit from this property worth driving a couple of hours to close on the deal ,is he confortable doing it by fedex ,i’d rather be there in case he decides to back out so i can explain how this is a win/win deal and to ease any misgiving he might have . GOOD LUCK ON YOUR R.I.S

Re: Notarizing docs via Fedex - Posted by Brent_IL

Posted by Brent_IL on September 25, 2003 at 10:45:37:

FYI, I used to send docs out with the Post-It® arrows and sign-here stickers. After I got a few back that were signed on the wrong line or incomplete, I started sending out a second set that had their name and signature written-in. I send additional cover instructions that essentially say; ?When you?re finished, the documents will look like this Check each page and send it all back? I can circle items and draw on the copies. It helped.

Re: Notarizing docs via Fedex - Posted by J. Christopher

Posted by J. Christopher on September 25, 2003 at 10:08:21:

Hi Matt,

No problem with doing this. Just Fed-ex the documents to your Seller. Make sure you add “Sign Here” arrows on the documents so that the Seller knows exactly where to sign and have him get a notary to notarize his signature. He can then fed-ex the entire packet back to you and its done.

I’ve done this twice before and it works fine.

J. Christopher

Thanks Jim - that’s what I was looking for ** - Posted by mattc

Posted by mattc on September 26, 2003 at 09:30:34:

Thanks Jim. That’s what I needed to know.

I would have no problem driving to meet this guy
by the way - even 2-3 hours - it’s not that I’m lazy
(if anyone knew me - they would never suggest this…)

But - this seller is someone who had had this place
on the market for 6-9 months, wants to sell, but
is in no hurry to be pushed. I work well with him,
and he had another lady calling 12 times while he
was out for a week - to buy his place - and he
just decided she bothered him - so will deal with me.
She was trying to fax a signed purchase contract to him, but then left 12 voicemails - irritated him - and
now he won’t deal with her…hence my effort
to work with him - at his pace.

Thanks for the advice here Jim, and everyone.

FMV 262K - from bank appraisal
Seller will sell for 200K mortgage balance.

I am going to look at place this weekend.

Has a realtor invovled, but he has agreement with Realtor to back out if he found a buyer himself.

I want to option at 200K, then flip contract to retail buyer for 210K - or other investor.

I have no cash reserves - yet - so am not comfortable
doing Sub2 on this one - otherwise it could be potentialSub2 then L/O out.

Thanks,

mattc - mi

p.s. has your site been down a few days??

should I sign first? - Posted by mattc

Posted by mattc on September 25, 2003 at 11:14:54:

Wondering if I should sign first, and
if there is any problem just having the
seller sign and notarize his part - since
the notary will obviously not be there for my
signature.

Or - seller could just sign and notarize for his
signature line, mail back to me, and I could sign.

Would the fact that a notary was not present
for my signature cause any problem for me later?

Thanks all in advance,

matt - mi

Re: Notarizing docs via Fedex - Posted by Darin

Posted by Darin on September 25, 2003 at 10:41:00:

If he stops by his bank, it should only cost him a couple of bucks for the notary.

Re: Thanks Jim - that’s what I was looking for ** - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on September 26, 2003 at 15:25:38:

Matt C–(MI)--------------

These days faxed documents with signatures on them are legal. You could fax your document to him with your signature on it and have him sign and fax back to you. Then you mail two copies of your original to him to sign one and mail it back (in your return envelop) and one to keep.

This all assumes you don’t need a notarized signature, which you don’t for an opition.

If the property really is worth $260K, it seems likely to me that you could get about $230K of it, if it is not in too bad of condition.

Good InvestingRon Starr*

Re: should I sign first? - Posted by J. Christopher

Posted by J. Christopher on September 25, 2003 at 13:43:37:

Matt,

If you’re doing a Subject 2 (Warranty Deed and all accompanying documents), there is nothing for you to sign. The Seller signs all Closing Documents and has these documents notarized.

If you’re talking about a Purchase Contact, then yes, you sign first (making a photoccopy of the contract for your files) and send the Contract to the Seller to sign. The Purchase Contract does NOT have to notarized.

J. Christopher

Thanks Ron Starr also ** more - Posted by mattc

Posted by mattc on September 26, 2003 at 16:22:18:

Thanks Ron also. I always welcome your opinion
here on the board.

I will be looking at it Sunday. It is also listed
with a Realtor - but since the owner is now retired and out of town a few hours away - I think it is hard
for him to do anything with it - and I’m not sure
what the Realtor has done to date.

He has an agreement with the Realtor that they will
not charge him if he sells on his own - through his
own contacts, hence - me.

I have a short document I created releasing them also
from this. Not sure if I should bother getting them
to sign or not - since the commission is his issue
either way. Thoughts?

thanks,

matt - mi

both parties signing and notarizing st. option - Posted by mattc

Posted by mattc on September 25, 2003 at 13:55:24:

Thanks J. I’m doing a straight option, and they
recommend that both parties sign and have this
notarized, so that’s my dilemma.

The option is pretty much the same as the purchase
contract - so I guess we could just both sign
without notarizing…

I appreciate your responses…

mattc - mi

Re: both parties signing and notarizing st. option - Posted by Kristine-CA

Posted by Kristine-CA on September 25, 2003 at 19:10:50:

If you insist of having the option signed and notarized by both of you, then sign in front of a notary, and then have the seller sign in front of a notary where he is located.

I would check with an attorney about the necessity of a notary, though. I wouldn’t have an option contract notarized. But I’m not a lawyer and don’t know what is customary or necessary where you live.

Sincerely, Kristine

thanks Kristine curious why you say you wouldn’t - Posted by mattc

Posted by mattc on September 25, 2003 at 19:16:34:

Thanks Kristine for your answer.

I’m curious - when you say you wouldn’t have the
option notarized, do you mean you just don’t think
it’s worth it to do this - or it could actually be
a negative?

I will keep your response above also.

Thanks,

mattc - mi