The Real Estate Encyclopedia
How Legally Binding Is A Real Estate Document Submitted By Facsimile?
Category - Home Selling Questions - General Home Selling FAQ's

Although it is always advisable to draft and have all parties sign originals, a real estate transaction typically is completed using the facsimile machine.  With this machine, a copy of the offer can be sent via normal telephone lines and while you are explaining the terms of the offer, the seller or sellerís representative can look at a copy, to avoid confusion.  Upon agreement or in the case of a counteroffer, the seller sends a signed copy back by FAX.  In most states, a faxed document is considered a legal document and the time and date stated on the transmission sheet may bare great weight in case of litigation.  Brokers must always file the fax transmission sheet as supporting evidence of time and date the document was sent.  The time and date must be within the period allowed by the offer or counteroffer. 

 
Category(s)
Home Buying Questions - Buying Legal & Closing FAQ's
Home Buying Questions - General Home Buying FAQ's
Home Selling Questions - General Home Selling FAQ's
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