Wholesaling out of state?

How am I to get a contract with a seller if we never meet in person? I'm under the impression we can fax the contract over and have them sign it to fax back to us. Do I need them to get it notarized? Someone please help as I have a potential property outside my state!

Edited: 06/26/2010 at 05:34AM

Account Closed

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Jul 24 '08, 08:05 AM

Check out efax.com to send a fax online.

Regards,

Edited: 06/26/2010 at 05:34AM

Jason Cummins

Real Estate Investor · Katy, Texas

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Jul 24 '08, 10:33 AM

fedex and fax machines are your new best freind

no they do not have to be notarized, atleast where I do business

Edited: 06/26/2010 at 05:34AM

M Lang

Real Estate Investor · Providence, RI

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Jul 24 '08, 07:28 PM

But how do I know the actual people are signing the contract?

Edited: 06/26/2010 at 05:34AM

Jason Cummins

Real Estate Investor · Katy, Texas

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Jul 25 '08, 01:19 AM

when it goes to closing if the signatures arent close to resembling they will know something is up and not close

basically you will need to trust them, there is no actual way you will know

Edited: 06/26/2010 at 05:34AM

Dawn Vought

Real Estate Investor · Commack, New York

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Jul 27 '08, 08:29 AM

Your title company should be getting ID in order to close the transaction. Some of the documents may need to be notarized, depending on your state regulations or normal practices.

Edited: 06/26/2010 at 05:35AM

Shi'Mere Andrus

Real Estate Investor · Torrance, CA

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Aug 10 '08, 12:38 AM

Where should the closing happen? At title company or the "out state" title company where the seller and the potential end buyer are at?

Edited: 06/26/2010 at 05:39AM

Jason Cummins

Real Estate Investor · Katy, Texas

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Aug 11 '08, 11:07 AM

The closing will happen in the state of the property.

Edited: 06/26/2010 at 05:39AM

Sean L.

· Monarch Beach, California

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Nov 26 '08, 11:17 PM

I personally use www.DocuSign.net for all of my documents. It is one heck of a service for the virtual wholesaler.

Now you can wholesale from Cabo!

Edited: 06/26/2010 at 06:29AM

Russell Chestang

Real Estate Investor · san antonio, Texas

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Dec 14 '08, 01:33 AM

It is smart and safer to require all forms to be notarized before they are shipped. Most credit unions have a free notary on site.

Edited: 06/26/2010 at 06:39AM

Jeff Fairchild

Real Estate Investor · Vancouver, Washington

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Dec 18 '08, 06:28 AM

Russell,

Notarized as in the seller out of state goes into the credit union w/ the notary? Ive heard that some states require the buyer and seller to be in same place w/ notary.

How can I find out if my state requires Notary, or is it the seller's state I would need to know?

If either my or the seller's states require notary does that mean I can't do the deal?

Edited: 06/26/2010 at 06:42AM

Ken B

· New York

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Dec 19 '08, 05:55 AM

TTT! Looking to see more experienced out of state wholesalers add to the info!

Edited: 06/26/2010 at 06:43AM