Is a realestate contract binding or void if the lender does not sign the borrowers copys?
June 4th, 2011 | by admin |I helped my daughter purchace her first home. After one year she was unable to continue making her mortgage payments. We tried to get a loan modification but was denied. I reviewed the contract and noticed that the lender did not sign any of the documents.
The contract of sale would be signed by buyer and seller- not by mortgage company. Even if some of the contract paperwork is not binding for some reason- the fact that your daughter signed the closing documents shows that she was OK with what had been agreed.
If you are talking about loan documents that she got at closing- she may have gotten copies that were not yet signed by mortgage company at closing. She could have gotten copies later that had signatures- or the signed ones may have been sent directly to county. It is possible someone made a bad mistake- but not very likely. You would have to hire a good local real estate lawyer to get a good idea.
4 Responses to “Is a realestate contract binding or void if the lender does not sign the borrowers copys?”
By glenn on Jun 4, 2011 | Reply
The contract of sale would be signed by buyer and seller- not by mortgage company. Even if some of the contract paperwork is not binding for some reason- the fact that your daughter signed the closing documents shows that she was OK with what had been agreed.
If you are talking about loan documents that she got at closing- she may have gotten copies that were not yet signed by mortgage company at closing. She could have gotten copies later that had signatures- or the signed ones may have been sent directly to county. It is possible someone made a bad mistake- but not very likely. You would have to hire a good local real estate lawyer to get a good idea.
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By Lisa L on Jun 4, 2011 | Reply
What documents do you think the lender would sign? Original application has some forms that the loan officer signs. The real estate contract is not signed by the lender. It is between buyer, seller & agents. Attorneys & title companies normally give copies at closing but they are copied before anyone signs. Don’t think your daughter will get out of this on a technicality like that.
The borrower signs the majority of the documents at closing. The attorney or title agent signs some & notarizes some. You had to help your daughter buy because she could not do it on her own. You should have known this could happen so take responsibility for your actions.
I am not being mean, I just don’t like when people try to blame all their woes on someone else when they are truly at fault.
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