Does a Short-Term Option need to be notarized?

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  • Hi all –

    Does an option always need to be notarized even if you will NOT be recording it in the public records?

    In this case I am referring to a short-term option for like 60-days with a 30-day renewal to allow the optionee (buyer) time to show and market the property. I know that when the transaction involves large amounts of money it should definitely be recorded and therefore it must be notarized but is that also the case with a short-term option like this?

    Thanks,
    Rafael

    No you only need to notarized if you need it recorded and of course it needs being in recordable form. I would never record my option anyhow if it was short-term or long-term I would record a memorandum or a mortgage of option.

    Rafael,

    I don’t typically have short term options notarized, but if I am confidant that its a good deal and that I will close on the option or find a buyer to close, I will have the title company go ahead and generate the closing paperwork and have the seller sign as soon as possible. This gives the seller some reassurance that the property is sold, and that they won’t continue looking for some other solution.

    Ben

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