Posted by hodgy on 11/20/12 9:58am
Msg #444103
OWNER/BORROWER/CONTRACTOR AFFIDAVIT AND INDEMNIFICATION AGRE
OWNER/BORROWER/CONTRACTOR AFFIDAVIT AND INDEMNIFICATION AGREEMENT
This has been in most of my signings in the last month or so. It is somewhat confusing on how to fill out. This form seems more appropriate for a purchase rather than a refinance.
Any input on how others fill this out for a refinance.
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Reply by ToniK on 11/20/12 10:13am
Msg #444105
I just have them sign it. If Im thinking of the right document you are speaking of. I just tell them its to make sure there arent any liens against property and to issue Title Insurance. Some has it where they have to initial almost every paragraph and others do not. Some people read it and some do not.
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Reply by hodgy on 11/20/12 10:16am
Msg #444106
Thanks. So you just have them sign the last page which is an affidavit? That is what I have been doing and usually check mark the box on front page that states No Recent or Contemplated Construction (within 120-Day Lien Period)
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Reply by ToniK on 11/20/12 10:21am
Msg #444108
Well that part is usually checked already at least from Title companies I work with. One time it wasnt checked and the BO checked off a box. I make no moves to check off anything. But yes I just have them sign the back and fill out my part.
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Reply by hodgy on 11/20/12 10:27am
Msg #444109
yes I don't check it what I meant was I confirm that there is no construction and have them check that box and then sign the affidavit.
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Reply by Lisa Cirillo on 11/20/12 10:33am
Msg #444113
If its the same form I'm thinking of, I have them read it, check off the appropriate box and sign. Then I do my part. I'd rather have them read it and know what they are signing. Don't want anyone coming back and saying "I didn't know". Better safe than sorry.
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Reply by Clem/CA on 11/20/12 10:50am
Msg #444118
fill in borrowers name page 1 by borrower line, have them sign the borrower box by where it says by, print their name, noterize
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Reply by John/CT on 11/20/12 11:42am
Msg #444123
As I recall, there is a box on page 1 to tick off that this is a refinance, as well as a provision to fill in the address line. I also have the borrower(s) print their own name(s) and title. In this regard, I ask them if they are the owner(s), and if so, please include the word "Owner". No UPL here  .
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Reply by desktopfull on 11/20/12 12:15pm
Msg #444125
When in doubt contact TC or hiring entity. n/m
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