Out of state owner - Posted by Turkish

Posted by Jim FL on November 12, 2002 at 16:55:42:

I’m confused here maybe.
You want to send the option out to the seller, signed by you, via fax, and have the seller sign it, then fax it back?
That would mean you and he entered into a legally binding agreement.
You might want to add a clause which states the agreement is legal if transmitted via fax etc.
I think Bronchick has a good clause with regard to that in his course forms, available on his website I think.

You can do the fax one, and then send an original via Fed-Ex with return trip paid to get an original.
Perhaps having him notarize his signature, and you yours, just in case you need to record the option.

That might work.

Good luck,
Jim FL

Out of state owner - Posted by Turkish

Posted by Turkish on November 12, 2002 at 15:25:36:

I have an out of state owner who is motivated and ready to sell, i also have a number of interested parties. I want to fax him an option in order to get his signature. My question is, is this legal and will the option hold even though it’s got mine and his signature on it?

Re: Out of state owner - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on November 12, 2002 at 17:31:23:


This is a legal question. Ask an attorney.

I am not an attorney. I believe I remember reading a newspaper article that all states have approved faxed documents with signatures for real estate deals. But I am not sure. Talk to a local attorney.

I know a fellow how buys as you suggest doing, with contracts rather than options. This is in CA. I think that he did the faxed contract with a MO owner recently.

Good Investing**********Ron Starr*****************