Jason,
Why wont you finance her? Theres plenty of ways to finance her its really up to you though! I think you may just be on the surface dig deeper any seller has a way to play the bank and come out ahead.
As I said above, if a DOCUMENT is to be recorded, it will likely have to be notarized. While there may not be laws requiring "contracts" to be notarized, I suspect there are laws and court rules of procedure giving court recorders and court clerks the right to reject any document for recording that is not notarized.
for the sake of clarification is better that you do not
notorize the contract to assign or have it recorded
the reason is it will provide a cloud on the tilte and
look very supicous to your buyers lender alerting redflags even if the person you assign the contract
to pays cash if he attempts to sell it after (lets say )
rehab to his buyer it will look as if the property has
changed hands 3 to 4 times in one year a bad sign to any lender. at worst case if you wish to notorize ???the contract you may do so but do not record it you
will be asking for problems...... long time investor (ex) loan officer
Jason,
Why wont you finance her? Theres plenty of ways to finance her its really up to you though! I think you may just be on the surface dig deeper any seller has a way to play the bank and come out ahead.
correction this will look as if you took advantage of her by any sane person....
There are no laws in any state requiring contracts to be notarized.
As I said above, if a DOCUMENT is to be recorded, it will likely have to be notarized. While there may not be laws requiring "contracts" to be notarized, I suspect there are laws and court rules of procedure giving court recorders and court clerks the right to reject any document for recording that is not notarized.
Excuse me, that "protect", not pretect.
for the sake of clarification is better that you do not
notorize the contract to assign or have it recorded
the reason is it will provide a cloud on the tilte and
look very supicous to your buyers lender alerting redflags even if the person you assign the contract
to pays cash if he attempts to sell it after (lets say )
rehab to his buyer it will look as if the property has
changed hands 3 to 4 times in one year a bad sign to any lender. at worst case if you wish to notorize ???the contract you may do so but do not record it you
will be asking for problems...... long time investor (ex) loan officer