Posted by JFinke KC on July 12, 2002 at 14:31:25:
Rob,
Look in the Yellow Pages. You can call a notary service to meet you at the sellers house.
Good Luck,
JFinke KC
WHO SIGNS Memorandum of Agreement before notary? - Posted by jerry
Posted by jerry on July 12, 2002 at 13:44:03:
If you’re buying an option to purchase from your seller, who signs the Memorandum of Agreement before a notary? Once you have the Option form signed, can you just go alone to a notary and execute the Memorandum of Agreement, or is it the seller who has to execute it before the notary so you can record it?
Depends on how smooth you are . . . - Posted by JoeKaiser
Posted by JoeKaiser on July 12, 2002 at 21:19:16:
Given the choice, a memo of option with the seller’s signature is always preferred. When a title company or examiner sees that, he knows it’s “real” and must be dealt with accordingly.
A memo of option with the buyer’s signature is better than nothing, but not by much. It may sufficiently cloud title to cement your position, but it may not.
There is a “honeymoon” period that takes place just prior to closing. But the minute the money changes hands, it’s over. The key is to get all the difficult and problematic documents signed in that honeymoon period.
Joe
Re: WHO SIGNS Memorandum - Posted by Stacy (AZ)
Posted by Stacy (AZ) on July 12, 2002 at 17:59:30:
I’m not sure which form you are using, but the affidavit and memorandum of agreement I use only requires my signature and the notary.
You can get it for free at www.legalwiz.com.
Re: WHO SIGNS Memorandum of Agreement - Posted by Brian M. Powers(MI)
Posted by Brian M. Powers(MI) on July 12, 2002 at 13:59:46:
jerry:
all parties signing the agreement will have to sign before the notary. once the agreement is notarized and all parties signed, you as the tenant/buyer (the one with the option/interest on the property) take the memorandum to the county deeds office to file it.
BMP
memorandum or mortgage ? - Posted by limeydale
Posted by limeydale on July 13, 2002 at 15:54:48:
Joe,
would you then recommend a trust deed or a mortgage signed by sellor to secure the option,with the appropiate clause written in.
EXACTLY!! That’s why I asked! - Posted by jerry
Posted by jerry on July 12, 2002 at 19:17:50:
Stacy, that’s exactly what made me ask in the first place. I checked the MOA you mentioned in Bronchick’s forms and the Sheets form. They both allow for only one affiant, but based on Brian’s info on both signing, I figured I could always redo the form or add another affiant and have both the Optionor and Optionee sign. Do you mean to suggest that I could unilaterally, without the help, consent or knowledge of the seller/optionor grab a piece of paper out of my file, sign it in front of a notary swearing that the aforementioned is true and go record the thing, thereby clouding title? I know that if I, personally, did that it would be honest, but it seems like an open door to crooks. I liken it to an animal marking his territory, which is what you’re doing, but the procedure with only one person seems unlikely. If it were to be only one person, it seems that person should be the seller/optionor, no?
Re: WHO SIGNS Memorandum of Agreement - Posted by Rob
Posted by Rob on July 12, 2002 at 14:04:21:
Any words of wisdom on getting the seller to meet you “the day after” to sign in front of a notary?
Where do you usually go for a notary?
Thanks!
Re: EXACTLY!! That’s why I asked! - Posted by Brian M. Powers(MI)
Posted by Brian M. Powers(MI) on July 12, 2002 at 21:06:01:
jerry i am sure either are acceptable. i echo stacy’s remarks about bill bronchik, having both met him and purchased courses of his.
i had my lawyer draw me up a memo. of option that is tailored for michigan and it has the optionor and optionee both sign.
i dont know that it is legally required to have both sign or not, but i cant imagine that the option is clearly agreed upon by both parties can hurt.
BMP
Re: EXACTLY!! That’s why I asked! - Posted by Stacy (AZ)
Posted by Stacy (AZ) on July 12, 2002 at 19:57:30:
“Do you mean to suggest that I could unilaterally, without the help, consent or knowledge of the seller/optionor grab a piece of paper out of my file, sign it in front of a notary swearing that the aforementioned is true and go record the thing, thereby clouding title?”
Yep, that’s what I mean.
“I know that if I, personally, did that it would be honest, but it seems like an open door to crooks.”
Sure, open door to crooks who could be sued for slander of title. Anything is open to fraud. It’s not fraud if it’s legitimate.
I don’t know what to tell you other than the form is on a respected real estate lawyer’s website, and I’ve used the form for my deals with no problem. I really don’t understand the controversy.
Good luck!
Re: WHO SIGNS Memorandum of Agreement - Posted by Brian M. Powers(MI)
Posted by Brian M. Powers(MI) on July 12, 2002 at 14:25:36:
day after what?
i have them sign the day we sign all the other documents.
in the past i have met the seller at a mailboxes etc. somewhere in between my house and theirs.
BMP
Re: EXACTLY!! That’s why I asked! - Posted by Rey
Posted by Rey on July 13, 2002 at 10:41:09:
I was taught you have to show the lease option agreement to the county clerk so they could make a copy of it before they would accept the memorandum of option for recording. Am I wrong about this?
Re: WHO SIGNS Memorandum of Agreement - Posted by Rob
Posted by Rob on July 12, 2002 at 14:29:37:
I mean when you meet a seller at their house to do an L/O…
The Lease agreement is fine, but you need a notray for the other papers…how do you coordinate that?
Re: EXACTLY!! That’s why I asked! - Posted by Stacy (AZ)
Posted by Stacy (AZ) on July 13, 2002 at 12:33:42:
Rey, I’m sure there are many different requirements across every county in the US. Good point. Here, I send-in the affidavit and $9, and it’s all taken care of.
Re: WHO SIGNS Memorandum of Agreement - Posted by Brian M. Powers(MI)
Posted by Brian M. Powers(MI) on July 12, 2002 at 17:22:55:
i meet the sellet at there house to do a final walk through, get the keys, etc. and we sign the L/O agreements and any other papers that don’t require that they be notarized.
we then leave the sellers house and go to a nearby kinkos, mailboxes etc., or any other local place that has a notary.
BMP