I am in the process of signing a wholesale deal for a single family house owned by three siblings that live in three different states (Washington, Oregon, and California).
None of them are tech saving so docusign, scanning, and emailing are not really an option.
Here is my specific question - if I have the primary owner (sibling taking responsibility for selling) sign the PSA with et al will that be a valid/binding contact for all owners? Will a title company accept the contact and track down the owners for signature for closing?
I appreciate your help!!
If title is held by all three, then you will need all three to execute any contract. Unless two of them execute a power of attorney to allow the third sibling to represent their interests in this matter.
It's not necessary to have them all sign the same copy of the signature page of the sales agreement, you could send a copy of the page to each and have them sign it - along with a witness - and send/facsimile it back to you.
Naturally, you should seek advice from your attorney in this matter on which avenue would be the easiest, most cost efficient and expedient.
Everyone who has an interest in the property will need to sign in order to make the agreement binding. Good luck.
Gotta agree with the other posters. I'm sure an attorney would be quick to point out that unless all parties are named explicitly and sign individually, the contract might not withstand a legal challenge, but ask your attorney - I'm not one.
Thank you all for the feed back.