I will be getting all of the documents signed, notarized and returned overnight tomorrow for our Thursday closing.

@Paul Scalcione Jr Careful with the mother's in law units or guest houses; they're oftentimes not legal units and more often than not are not separately metered, so if you rent those out, you'll probably have to cover the utilities.

The bank that has the loan I actually used their meeting room and their people notarized all of the paper work.

A signed, notarized letter (affidavit) from your brother pledging the family loan and attached to it  his VOD (verification of deposit).VOD is most usually a copy of a recent bank statement.Proof of Funds nowadays has become a joke as many 'lending partners' are selling them left and right to 'investors'.Not legal advice, jmo experience.PS - if you require his approval after you land a deal then you do not have cash available til (contingent!) 

To get the existing financing and the pay off I generally say something like this:" So the banks going to take your house and give me nothing in the moment and just a few days, I need at least seven days to be able to solve the problem, so I would need to see all the paperwork on the property, the paperwork from the attorney on the foreclosure, then I need to contact them for pay off and find out how much all the fees are including the late fees and the legal fees""If you want to protect your credit rating from a foreclosure on your credit rating, which stops you from getting any other government loans or even might even stop you from getting a government job, let's sit down and look at all the numbers and see what I can do to quickly solve your problem " And then I make sure that when I walk through the property everyone that is on the mortgage and everyone that is on the title of ownership of property is present,  so that I can get some kind of sale and purchase agreement, written signed, and notarized.

Torey,My seller lived in Montana so I found a notary at a local bank and she agreed to notarize the sellers signature and hand over the check for me and send the document back.  

Was the option notarized and recorded?  

I am not sure if I will go though with it or not. Are

Write up a little agreement that show how much you each contributed, how much you will each contribute to the rehab and what percentage of the property you each will own and have it notarized.  

Why not? Are