What it Means to Have Something Notarized -- And How it Can Screw Up Your Short Sale
If you are involved in a short sale, directions must be followed to a "T". And that means having properly notarized documents. Chris Ann Cleland, Short Sale Specialist in the Bristow-Gainesville-Haymarket area ran into a first hand issue of improper notarization of documents. Do it right the first time and you will have no worries.
What it Means to Have Something Notarized -- And How it Can Screw Up Your Short Sale
So there you are, you're an out of state Short Sale Seller. Your Short Sale has been approved and your last act is to sign the settlement documents and the Short Sale Approval Letter, the latter and some of the former will need to be notarized. Do you even know what that means? I can tell you one thing it DOES NOT
mean. That is to sign the documents, pack them up with your license and have a notary "notarize" them. I'm not a notary, but here's how I know.
Last week I had a Wells Fargo Short Sale go to settlement. The Sellers were out of the country. The settlement company sent the closing docs, including the Short Sale Approval Letter, and had instructions about which ones needed to be notarized. As soon as the Sellers got the docs at 11pm their time, they signed and dated everything--the date being January 19th. The next morning, they took those docs to a notary to have them notarized. The notarization took place on the 20th.
When Wells Fargo saw the difference in the dates it was clear to them the docs had not been notarized, and therefore, unless they were properly notarized, the funds from the closing were going to be sent back to the settlement company. You wouldn't want that to happen, right? So what does it mean to have something notarized?
When a document is notarized, the notary has first established your identity by your presenting them with a photo identification. THIS HAPPENS BEFORE YOU SIGN ANYTHING. The notary is a physical witness to the fact that you, not your brother, mother, sister or father, signed that document. So in order for something to be notarized, the notary will WATCH YOU SIGN IT. And therefore, your signature will happen on the same date as the document is notarized.
So if you are out an of state, or out of the country, Short Sale Seller, or just a conscientious person, and want things to be RIGHT, make sure you sign any documents that need to be notarized IN FRONT OF THE NOTARY. Just because there is a notary out there that is willing to notarize a document without seeing you sign something, doesn't make it right, but don't wait for your Approved Short Sale to be rejected to find that out.
Chris Ann Cleland, Associate Broker- Licensed in Virginia, GRI, SFR, Northern Virginia Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155. To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com. Or you can visit her website: www.nvarealestate.net.
Header photo is the Bristow, VA community of Bramear, taken by Chris Ann Cleland during the blizzards of 2009-2010.
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