witness signature

[r2t]

I`m trying to close on my second property, run into a problem with broker and or lender. The seller doesn`t have a witness signature on the real estate contract. Should this really be a problem?
Thanks
Ron L.

 

[Nir]

of course it`s not a problem. just ask the seller or his/her agent to witness it appropriately. you should have a witnessed version in 24 hours for the lender/broker. good luck.

 

[GarthChapman]

Your Lender may indeed require the witness signature. In Alberta this is now an issue - Realtors are not required to have that witness signature by CREB and AREA (their governing bodies) but your Lender may well demand it be there. I don`t know what is happening on this in other Provinces.

Hope that helps,

 

[Dan_Eisenhauer]

Witness`s signatures are not legally required. HOWEVER, with all the fraud that has surrounded mortgages and real estate the last few years, lenders are getting very sticky and are requiring those signatures.

I guess they want to know you, the signer, are who you say you are. But, if you plan to be fraudulent, why would a witness`s signature make it less fraudulent? Doesn`t make sense to me, but they set the rules.