Are you planning to buy a new home this Spring? Congratulations! You’ve got many obligations and requirements, but a Notary can help with some of them.
Here’s what you need to know about how a Notary can help you buy or sell a property this Spring.
When To Engage A Notary
A Notary isn’t usually your first call when you decide to buy or sell a property. You should work with your Realtor and mortgage broker first. They will help you find the right property and ensure you can afford the mortgage.
When you have found a place you want to purchase, this is when you should engage your Notary. Before you make a formal offer to buy the property, your Notary can review the paperwork and offer to ensure everything is correct and that you understand all the terms. Once both parties sign, the offer becomes legally binding once all subjects and conditions are met.
A Notary can offer advice regarding the paperwork to ensure you’re getting into a transaction you understand and can abide by.
How A Notary Helps With The Purchase Of A Home
Once the offer to purchase has been accepted by all parties, your Notary will begin collecting the necessary documents to process the transaction. They will ask for the offer to purchase papers and other information from your lender and Realtor.
Then a Notary will start your file and gather the additional necessary documents. They will then help by:
After this has been completed, your Notary will submit all the required registration and transfer paperwork. They will also request the transfer of any funds held in trust so you can take possession of the property right away on your possession date.
How A Notary Helps With The Sale Of A Home
If you are also selling your current property, the same Notary can assist with this process too. When you get a Contract of Purchase from a prospective buyer, we can help review it to ensure that everything is in order before you sign it. Once you sign it, you are legally bound to the transaction.
A Notary, often with the support of your Realtor and mortgage broker, will then act as the intermediary between the buyer and any owners on the title of the property. A Notary will request information and documents from you and your real estate agent, including, but not limited to:
Once your Notary has received all paperwork, they will prepare the sale and transfer paperwork. If you are also buying another property, they will ensure funds and paperwork is transferred as appropriate.
Once all paperwork is prepared, your Notary will call you (and anyone on the title of the sold property) into the office to sign and review the paperwork. If you have any questions about the process, ask them before this meeting so the paperwork can be amended in advance if needed. This meeting is your last chance to ask questions or clarify any information if required.
Once all paperwork is prepared, your Notary will call you (and anyone on the title of the sold property) into the office to sign and review the paperwork. If you have any questions about the process, ask them before this meeting so the paperwork can be amended in advance if needed. This meeting is your last chance to ask questions or clarify any information if required.
How Else Can A Notary Help In Real Estate Matters?
In addition to the purchase and sale of properties, a Notary can also help with other areas related to real estate, including:
What Am I (The Seller Or Buyer) Responsible For?
In any real estate transaction, you must be sure that you understand what you are committing to. It’s also important that you follow the instructions of your Notary to ensure that the transaction goes smoothly.
For example, if you need to provide documentation proof of insurance on the property, please do so promptly. Any delay in receiving the required information could result in additional fees or complications with the final sale.
You are also responsible for:
Do I Need A Lawyer Too (Or Instead)?
Home purchases and sales do not require a Lawyer to be present. As long as there are no complicated issues or legal matters, a Notary team can execute these transactions for you.
If for some reason, the real estate transaction requires litigation (which is rare), you will need to engage a Lawyer. Notaries can not represent you in court in litigious matters. Otherwise, a Notary can be your legal support to ensure the sale or purchase of a property is legal and complete.
Where To Find A Notary To Help You Buy Or Sell A House?
While your Notary can’t help you pack your moving boxes, they can help ensure that all your required paperwork and documents are completed and submitted.
My team at Mount Pleasant Notary is here to help. We can handle most of the preparation work over the phone and email. When everything is ready, we’ll book an appointment for you to visit our offices to sign your documents.
Contact us for a free consultation or to get started with the paperwork. We’ll make it the most stress-free part of the home buying and selling process.