 witness signature |
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| witness signature |
 Nov 6 2009, 05:53 PM
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#1
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Group: Forum Members Posts: 1 Joined: 21-November 08 Member No.: 8,394  |
I'm trying to close on my second property, run into a problem with broker and or lender. The seller doesn't have a witness signature on the real estate contract. Should this really be a problem? Thanks Ron L. |
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Nov 6 2009, 06:48 PM
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#2
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Group: Forum Members Posts: 1,420 Joined: 5-December 07 From: Toronto Member No.: 3,388 |
of course it's not a problem. just ask the seller or his/her agent to witness it appropriately. you should have a witnessed version in 24 hours for the lender/broker. good luck.
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Nov 7 2009, 03:47 PM
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#3
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 Group: REIN™ Members Posts: 1,832 Joined: 30-August 07 From: Chestermere, Alberta Member No.: 335 |
Your Lender may indeed require the witness signature. In Alberta this is now an issue - Realtors are not required to have that witness signature by CREB and AREA (their governing bodies) but your Lender may well demand it be there. I don't know what is happening on this in other Provinces.
Hope that helps, -------------------- Garth Chapman
Diamond REIN member with several top-ten awards and two REIN Leadership Awards Mortgage Advisor - Residential, Multi-family, Commercial Jencor Mortgage Corporation garth@jencormortgage.com Investment Representative Axcess Capital garth@axcesscapital.com Creator- Real Estate Management & Analysis Software REMA garth@remacanada.ca |
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Nov 11 2009, 11:05 AM
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#4
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 Group: REIN™ Members Posts: 815 Joined: 1-September 07 From: North Vancouver Member No.: 442 |
Witness's signatures are not legally required. HOWEVER, with all the fraud that has surrounded mortgages and real estate the last few years, lenders are getting very sticky and are requiring those signatures.
I guess they want to know you, the signer, are who you say you are. But, if you plan to be fraudulent, why would a witness's signature make it less fraudulent? Doesn't make sense to me, but they set the rules. -------------------- Dan Eisenhauer
BC Realty 911 Ltd. "Sensible Solutions for Problem Properties" 604-982-9151 BCRealty911.com |
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Lo-Fi Version | Time is now: 10th September 2010 - 10:21 AM |
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