Posted by Jen-CA on 6/24/05 8:49pm
Msg #47594

Purchase e-docs

This is my first experience with a purchase with e-docs. I was not given any information on the seller, just the borrower, but the documents have places for the seller to sign. Should I print out an extra copy of all docs for the seller just like I do the borrower? Any advice would be greatly appreciated.

Reply by CaliNotary on 6/24/05 8:57pm
Msg #47596

No, just print a copy for the borrower. The title company can provide a copy to the seller.

Reply by Jen-CA on 6/24/05 8:58pm
Msg #47597

Another question. Are they generally signed in counterparts or does the buyer/seller sign at the same time?

Reply by CaliNotary on 6/24/05 9:02pm
Msg #47600

it's quite normal for them to be signed separately. I haven't done that many purchases, but I don't think I ever had both parties at a signing.

Reply by PAW_Fl on 6/24/05 9:02pm
Msg #47601

Do not make a copy of ALL docs for the seller! ...

You should make copies of the SELLER's docs for the seller. I'm sure the borrower (buyer) would not appreciate having their information and personal affairs provided to the seller.

IF possible, I like to do the financials first, with the borrowers only, with the stipulation that the docs don't mean anything until the transaction is complete. That way, if there's a financing problem that may stop the purchase, then it can be handled before the sellers sign.

If you can't do the buyer's financing first, then do the seller side first. Then what needs to be accomplished by both seller and buyer (such as the HUD). And finally, the buyer. If the buyers are financing the purchase, you should excuse the sellers and all other disinterested parties and do the financing arrangement with the borrowers only.

Reply by Jen-Ca on 6/24/05 9:16pm
Msg #47606

Re: Do not make a copy of ALL docs for the seller! ...

Thanks for the responses.... I came to the same conclusion, that I should not make an additional copy of all the docs for the seller since most of them are the borrowers loan docs...It seems logical to me, now that I think of it. Thanks for the good advice!

Reply by Anonymous on 6/25/05 1:58am
Msg #47668

call for more direction. Are you the signing notary for the seller or for the buyer? If for the buyer (which is more likely) then a copy only for the buyer. I sure the seller has his/hers.