Home Buying in 30301>Question Details

nchome, Home Buyer in Lake Stevens, WA

Three people on will be on the mortgage. Can just one of those persons sign the purchase contract. The other 2 people are in another city.

Asked by nchome, Lake Stevens, WA Tue Apr 23, 2013

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Dear Nchome: anyone on the loan must also be on the purchase contract.
0 votes Thank Flag Link Wed Apr 24, 2013
No, all parties on a mortgage, must also be on the sales contract. This is a general mortgage industry requirement. Most agents use electronic signatures today. That allows the sales contract to be signed electronically from virtually anywhere. Also, contracts can be sent via fax or overnight for signatures.

For the mortgage application, each person will have to sign their own documents. If all parties will not be present at closing, a specific Power of Attorney might be able to be used. It is preferred that all borrwers on a mortgage always sign their own closing papers. This helps ensure that each party is fully aware of what they are committing to and helps to cut down on mortgage fraud.

If you are looking to purchase a property, working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your mortgage options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Wed Apr 24, 2013

Your question needs to be answered by the parties involved. Your escrow officer, your lender and your Realtor are closest to the transaction and will provide the answer that is important. Our opinions will not change reality if our opinions do not align with what those parties say.
0 votes Thank Flag Link Wed Apr 24, 2013
The closing attorney will have to create a power of attorney for the one person to sign.

Tyler Willis, REALTOR®
Keller Williams Realty Intown Atlanta
621 North Ave NE, Suite C-50
Atlanta, GA 30308
Office: (404)541-3500
Direct: (678)656-5524
0 votes Thank Flag Link Tue Apr 23, 2013
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