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Updated about 1 year ago on . Most recent reply

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Yoni Meth
14
Votes |
8
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Closing remotely from abroad with lender

Yoni Meth
Posted

I'm a US citizen but currently living in Israel, and I'm in the process of purchasing a property in Columbus Ohio.

My plan is to do some rehab and therefore I want to take a hard money loan which will cover 80% of the purchase price and 100% of the renovation.

While talking to the title company, they said there was no problem with me signing with a remote notary.

But, the problem is with the lender who requires a wet signutre, and has given me the following options:

1. Assign a power of attorney to sign in the US (the POA will be signed with a remote notary - and also that some lenders did not allow)

2.  Go to the US embassy and sign with a US notary. 

3. Fly to the US, and sign it in person with a mobile notary (wet signature)

Going to the embassy is not an option since getting an appointment over there can take months...

I had a thought which I spoke with fellow investors, to sign the documents with an Israeli notary and then get an Apostille stamp. once I have it all with a wet signature I'll mail the documents with DHL/UPS and it will arrive by the lender/title company in 10 days.

As far as I know, a notary signature with an apostille stamp is valid for every legal document almost all over the world...

What do you think? 

Did any of you manage to do something like that?

Any of the lenders here can qualify if it's possible?

Thanks a lot!

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