Home Selling in Wallingford>Question Details

R, Home Seller in

If a house is co-own by 3 persons. Does everyone need to sign the listing agreement? All 3 have agreed to

Asked by R, Tue Jun 3, 2008

sell the house. However, one person is living in another state. How does it work? Can he fax his signature?

Help the community by answering this question:

Answers

7
Like everything anymore..."it depends". How is ownership held. If it is a partnership or a corperation or LLC then one signature may do the job... depends on who is empowered to do what. If it is juszt several friends and the property is in all their names then probably yes they all need to sign. I guess Id look at County records to see how the property is held. That is the key. As to spouses... again depends on how it is held and the property laws in your area. Out West there is a pretty good chance, lacking an agreement or specific notation in the recording, the spouse should sign just to be safe.
1 vote Thank Flag Link Tue Jun 3, 2008
Yes, you all three need to sign the listing agreement, but your Realtor should be able to do that electronically for you for the out of area seller. It only takes a minute. Do they have an email address?
Web Reference: http://www.cooperjacobs.com
0 votes Thank Flag Link Wed Aug 5, 2009
The prior answer is excellent! Additionally, if everyone is on title and doesn't sign, you really don't have a valid listing agreement. Yes, the signature can be faxed but all signatures need to be on the same document. With the size of the print on the forms, you may want to have your Realtor mail the documents to the individual in the other state so you can have a clear original.
0 votes Thank Flag Link Tue Jun 10, 2008
Assuming that the title's vesting reflects the names of three individuals then it is important for all three people and their spouses to sign the listing agreement, the Purchase & Sale Agreement, any addendums and/or contingencies, as well as the closing documents. Without a Power of Attorney specific to the sale, you'll also want each party (owners & spouses) to approve any written changes though most addendums only require the approval of a single individual on either side of the transaction once "mutual agreement" was reached. Given market conditions and the need to be responsive, a Power of Attorney would really help expedite things. I have had more than one scenario where an interested party was unavailable for several days or weeks - life does happen. I'll just assume that all parties have considered the tax implications of the sale and have already consulted their CPA.
0 votes Thank Flag Link Mon Jun 9, 2008
Well considered answers previously. As some already pointed out, if it is three individuals on the title, you will need all signature and initials (as well as spouses). If there is an agree point person for the sale of the property you could consider a Power of Attorney specific to the sale of the property.
Web Reference: http://www.homehounds.com
0 votes Thank Flag Link Tue Jun 3, 2008
All owners must sign the listing agreement. The person living out of state can fax a signed agreement back and have it be considered valid. Another solution would be for two of the three persons to sign a special power of attorney over to the third person, thus allowing the third party to act on behalf of the other two. I would only suggest this if all three parties understand the inherent risks involved (this is where I insert the phrase "consult a real estate attorney").

All three parties would need to be in agreement on selling the home, and the price that is asked. Additionally, when an offer comes in, all three parties would again need to agree on the offer acceptance price and terms. Lastly, when signing the deeds (at closing), the parties must all sign in front of a notary (no faxes allowed on this document).

Best of luck!

-Daniel
0 votes Thank Flag Link Tue Jun 3, 2008
Yes, all need to sign and a faxed signature will work. Oh, by the way - spouses need to sign too.
0 votes Thank Flag Link Tue Jun 3, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer