Just want to make sure my contracts are solid.
No.... You should get your memorandum of contract notarized...
Here is that document Click
In Philadelphia you do not need to notarize a contract for it to be a valid contract. HOWEVER, if you want to record that contract you do need to have both signatures notarized.
In other markets I have heard that you can just use a memorandum as @Michael Q. stated above. Call your cities deed recording department to find out their requirements.
@Michael Q. Can you please explain to me when this memorandum would be used in the transaction?
Would this be signed by the seller and myself in conjunction with the selling contract?
Also, would this document be signed THEN notarized, or the other day around?
I tell the seller after they sign my agreement that there is one more document that we need to sign when we open escrow tomorrow however that document must be notarized.
I then set a time to meet the seller at the closing company and at that time they sign in front of the notary public the document. I always want to meet the next day.
Usually, notarization is not a requirement when signing purchase contracts. Though, it is an option. Best of luck!
I appreciate your help.
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