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I am selling my house and accepted an offer from a buyer. He has a first, middle and two last names. He has signed the contract but did not include one of the last names when he signed. My broker has contacted their broker and asked about it but she gets no answer. Should I worry about this or is it not a big deal? My broker suggests, it allows the buyer a loop hole down the road if they decide not to purchase the house even though they signed a contract. Any thoughts on this and should I be worried? Thanks in advance.
I personally would not accept or sign the contract as the seller until the buyer correctly signs his name. PERIOD!! Every state has different laws, but this doesn't seem right to me!
The agent most likely feels this is a non-issue, therefore is not going to waste time looking into it. Up to the OP to determine if this is going to deride the sale.
I would not go by what the agent says as they are an agent and not a lawyer. Agents do not know all the real estate laws. Just send the contract over to your lawyer and have them review it. You should be doing that regardless. Always get a lawyer for a real estate deal.
I personally would not accept or sign the contract as the seller until the buyer correctly signs his name. PERIOD!! Every state has different laws, but this doesn't seem right to me!
Who is to say what constitutes as a correct signature? Signatures are a very personal and unique item.
Hmmm. What about that "she gets no answer" part. There should be something.
Quote:
Originally Posted by CGab
I personally would not accept or sign the contract as the seller until the buyer correctly signs his name. PERIOD!! Every state has different laws, but this doesn't seem right to me!
My realtor felt the seller's realtor isn't that concerned about it. I believe she did mention to the buyer to sign with all names and they did but only with the first letter of one of the last names. I think they always sign their name like that. Anyway, the contract is executed. My realtor said the only way it would be an issue is if we end up in court somehow which I don't think we will. We close in early November and I'm hoping it's smooth sailing. They have their pre-approval from their lender so they are anxious to buy.
If there is a way to connect someone to it its fine. My bank account has my shortened nick name on it rather than my full legal name. Is the money not mine? Or if you run it all together where really it looks like you left a letter out of the name? It's fine.
I wouldn't worry about it. Think about it. His agent knows its him, so it isn't as though there are no witnesses. Did he apply for a loan? There is paper work that has his name and signature. Handwriting experts can prove its him. There are likely things recorded in the past that have his signature that can be looked up. People buy things all the time that have different variations of their name. It doesn't mean you don't own a car if you buy it as Bob and your name is Robert. And if his intent was to sign the papers as someone else, which obviously it wasn't, that's a legal violation itself.
I think the worst that can happen is there is a fight for the earnest money and it's looked into and discovered that yes it really was him that signed it.
If the name was really different like Nancy Smith and it was signed David Harris, well that I would definitely question and not accept.
A lawyer once told me that you can call yourself anything you like as long as you aren't trying to be someone else.
Or, look at it this way. If a house is owned by Tom J. Smith does that mean it is owned by any or all Tom J. Smiths that make a claim to it? No, it can be traced to the guy who bought it and signed the papers.
Last edited by I love boots.; 10-05-2016 at 02:33 PM..
I think what matter more is the intent of the signature and if he was gonna claim that he didn't sing it I would think that's a fraudulent act so you should be fine.
I sign my name with the first letter of my first and last names. It is never my complete name signed, and every contract I have ever signed has been legal and binding.
I knew a doctor who's signature was just the letter R, the pharmacy never questioned it. I guess you have the right to sign however you want and he got tired of writing his name out.
I recently bought a home and had to many papers to sing that I used my sloppy quick signature for most of the places I had to sign. I have a neat signature that is somewhat legible and a more scribble one. Depends on the situation which one I use. If it's the store receipt I use the first few letter of my first and last name with a scribble trailing off.
Depending on how the lender puts his name on the mortgage, the buyer will have to sign that way. The lender might also ask for a correction at closing for him to sign the final page with whatever name the lender is using. It's a non-issue, and usually dealt with at closing.
Growing up, until I got married, my drivers license had one last name and I always signed them with a different last name. No one questioned it. I never used my legal name, and places only care that signatures match, not that you can read all the letters.
I personally would not accept or sign the contract as the seller until the buyer correctly signs his name. PERIOD!! Every state has different laws, but this doesn't seem right to me!
My signature is barely legible. Does this mean everything I've ever signed is non-binding? WRONG!! It's a signature.
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