pikes peak
Major Contributor
Registered: 12/15/04
Posts: 2743
Loc: CO
In our contracts you can spell out what is acceptable, originals, copies/faxes and/or electronic signatures. My broker will accept any or all methods I identified in the contract.
super realtor
Major Contributor
Registered: 05/01/05
Posts: 8471
Loc: georgia
Copies: Our system is pretty cool we fax them in and they are uploaded onto our tms system where they are stored online for each transaction so they can be pulled up electronically.They are held for 3 years which is the requirement for the ga real estate commission because of random audits of the files.
The files are replicated in about 6 other areas in case the system went down or had a virus.It's pretty awesome knowing everything is online and you don't have to woory about keeping up with old files and papers stacking up everywhere from closings.
PlatinumBroker
Member
Registered: 11/28/06
Posts: 319
Loc: Arizona
if one of my agents writes a contract, then that original HAS to come back to the company. copies are acceptable if the contract was written from an agent from another company.
_________________________
Specializing in REO & Investment Property
Registered: 12/30/05
Posts: 228
Loc: Rochester, NY
I manage all my transactions (personally) on my tablet P.C. and only turn them into my office once everything is signed off on.
Counter offers are done through a internet fax and my clients sign the computer screen and away it goes. I don't deal with papers anymore ... it's awesome!
Copies: Locally we are required to deliver 1 executed original document to each of the parties at the time of signing of an Agreement to Purchase.
This particular document results in a total 6 or 7 original documents being executed as follows:
Buyers (2) and Sellers (2) Listing broker (1) Selling broker (1) and agent (1).
Listing broker is required to forward a copy of their original to their clients attorney.
Selling broker keeps an original for his files and the buyer's will usually deliver one of their originals to their attorney and make a copy for their lender, if required for attachment to their mortgage application.
Although not required, it is advisable that all agents maintain a complete and duplicate file of his own in the event of a dispute or they change brokerage firms.
This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.