I am at the point where I sent the deed over to the seller.
This is a major trusting point on the seller’s part to send the deed back to me and I send them a check.
Has anyone completed a transaction the way the seller describes below? It doesn’t seem like a terrible option. I think I would have some sort of protection if things go south and I wanted to take legal action.
Seller: “I normally get the deed signed and notarized and take a picture of it and when the check clears mail the deed. It’s not a lot of money but I need to make sure that I don’t come out on the short end…”
@raph I understand their hesitation. I’m frankly surprised more people don’t get stuck on this issue.
Their suggestion sounds like one viable way to handle it. I’ve handled it a similar way in the past, but from the other end, where I get the cashier’s check, make a copy of it and mail it to the seller along with the deed to sign (so they know the money is ready and waiting for them once I get the deed back). But either way, someone has to put a lot of trust in the other person to follow through.
This is essentially what title companies are for. They make sure everyone does what they’re supposed to do and THEN they disburse the funds.
Another way to do it is with a mobile notary. You can mail your cashier’s check to the notary and they can hand it to the seller after they get the signed and notarized deed.
Or you could use something like SafeFunds, explained in this video.
@retipsterseth Thanks for that option. SafeFunds may be too slow for my liking but a viable option nonetheless. It’s always good to have more tools in the belt.
I believe I will go with the mobile notary. Thank you
@raph I send the mobile notary the check, the deed I created for the seller to sign, a return envelope, and a letter of instructions. In the letter I ask them to get the deed signed, notarize it, text me a photo of it, give the seller the check, and drop the deed in the mail. Depending on the cost, sometimes I’ll tip the notary for the extra work.
The other way I’ve done it is to do all of the above but instead of sending a check I wire the funds to the seller once I receive the text from the notary with the picture of the signed deed. Sometimes the seller wants to be reimbursed for the wire cost and I will do that if they ask.
