By Lisa A. Tyler
National Escrow Administrator
Melissa Burroughs, President of The Settlement Company in Manassas, Virginia, received two separate contracts for the purchase of commercial properties from a local real estate agent. Both contracts listed Whatta Trip as the buyer under his LLC. Both contracts called for earnest money deposits; as a result Melissa sent Trip her wire instructions. Read "YOU must be trippin'" to find out what happened next.
Sometimes putting a deal together and processing it through all the way to a successful closing is nothing short of miraculous. "MIRACLES do happen in real estate" describes the culmination of a four–month–long escrow that would not have happened without the sheer determination of all involved, especially the real estate agent.
Why is it principals involved in the largest financial transaction of their lives go on vacation to a foreign country? When principals are located outside the country, settlement agents have to take additional steps to ensure the closing documents are properly signed and acknowledged for recording and insuring purposes. Read "SIGNING at a U.S. embassy or consulate" to discover how principals can contact a government office to notarize their signatures.
Be sure to answer the monthly document execution question to make certain you understand the tips shared and to increase your "PROPER document execution for recording and insuring" knowledge.