#DOES A WILL HAVE TO BE NOTARIZED IN NJ PLUS#

Once it goes into your account and is verified there, then you know that they can move in.īut wiring the funds makes it possible for you to do it immediately. Give yourself a few days before you let them move into, make sure that it doesn’t bounce and that it goes into your account. You can actually do a direct debit from peoples’ accounts. You can also do an ACH if you set up a business account that allows ACH’s. There’s a lot of fraud with cashier’s checks. Just make sure that when you get a cashier’s check that you take it to the bank where it’s drawn against and get cash for it because cashier’s checks bounce, too. You could also get it with a cashier’s check. The seller is going to sign it and then you’re going to wire him the $1,500 to close the deal. You’re going to have that money wired to your account and then you’re going to get the signature from the seller. You’re going to get all the paperwork signed. $5,000 of it goes to you, $1,500 goes to the seller as their first month’s rent.

#DOES A WILL HAVE TO BE NOTARIZED IN NJ PLUS#

So you’re going to get $1,500 plus you’re going to have $5,000 from the seller. You’re going to raise it to $155K and you’re going to ask for $5,000 as a down payment, lease option fee, for the new lease option tenant and you’re going to ask for the first month’s rent, let’s say it’s $1,500. The second question here is, “How exactly do we set up the flow of payments from tenant buyer to me, the investor, to the seller? Do we, for example, have to set up an escrow bank account in our name?” It also puts the responsibility on your shoulders to make sure you do the right thing. So we have to put ourselves in control so the right thing can be done in any particular transaction. We have to assume that we are the most ethical person in the room and we know that we’ll do the right thing, but we don’t know that the other party will do the right thing. We always want to be in control of the deal and in the most control possible. So, we don’t have them sign the paper unless we’re the ones that are buying. If you’re selling you don’t want to do that because once, if that person defaults or they don’t exercise the option then you’ve got to find a way to get them off of that title and that means you have to get another signature from the later.

So if you’re buying a property and you want to record a cloud against the title so that your seller can’t sell it out from under you, then you might want to have it notarized and then file that at the county courthouse. If you record something, it’s going to have to be notarized. There’s nothing that has to be notarized on a lease option. Number one, when the seller and tenant buyer sign the lease option contracts do we have to get them notarized and/or recorded at the county, or is it enough to simply have signed copies in the possession of the three parties?” – Basal Akim

Does a will have to be notarized in nj