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Updated almost 16 years ago,

User Stats

387
Posts
8
Votes
Jeff Fairchild
  • Real Estate Investor
  • Vancouver, WA
8
Votes |
387
Posts

Closing subject to & lease option deals

Jeff Fairchild
  • Real Estate Investor
  • Vancouver, WA
Posted

I read an article online and one paragraph said:

"So here is how it breaks down: You will sign all of the paperwork with the homeowner at their house (this includes the contract and any addendums that don't need to be notarized. Anything needing to be notarized will be taken care of at closing). Once you have all of the paperwork signed, you will fax it to your closing attorney, just like you do with every other closing. Your attorney will do a title search and prepare everything for closing. On closing day, you will meet the seller's at the closing office, sign all of the paperwork and you will then own the house. It's that easy and simple."

I'm not sure I understand how you have a property under contract if you aren't signing anything in front of the notary until the day of escrow. Are you faxing over signed documents to your title officer? Aren't those invalid if there was no travelling notary at the house when you signed?

How is closing a lease option deal different than closing a subject to deal?