I'm hoping some mortgage brokers here can help me clarify. Apparently every bank has different rules when it comes to this which makes things worse.
I've heard so many conflicting rules, even from Bankwest themselves that I don't know what to do anymore. Because time is tight I can't afford to make a mistake and have them send me the docs to sign again. That would blow me out of the water.
I am buying a house jointly with people in another state. They are also on holidays for a few more weeks which means we're going to have to move very fast when they return or risk missing settlement.
I have been told the following things:
1) Some people tell me we have to physically sign together (i.e. I can't sign the loan docs then mail to them to sign their part). I'm talking about signing AT THE SAME TIME and in THE SAME ROOM in front of a lawyer. So I need to fly up to meet them. This is no problem but obviously something I'd like to avoid if I could.
2) Some people have told me it must be witnessed by a lawyer, some say a JP...some say any non-family member is OK. If I get this wrong I'd have to start again which I don't want!
3) Some say because I have power of attorney over them, I can just do it all. But I have also been cautioned that most banks don't allow this.
So what exactly are the Bankwest rules!?! I called them up and either got passed around a million times or they answered with such little confidence that I suspect they were just guessing.
I've heard so many conflicting rules, even from Bankwest themselves that I don't know what to do anymore. Because time is tight I can't afford to make a mistake and have them send me the docs to sign again. That would blow me out of the water.
I am buying a house jointly with people in another state. They are also on holidays for a few more weeks which means we're going to have to move very fast when they return or risk missing settlement.
I have been told the following things:
1) Some people tell me we have to physically sign together (i.e. I can't sign the loan docs then mail to them to sign their part). I'm talking about signing AT THE SAME TIME and in THE SAME ROOM in front of a lawyer. So I need to fly up to meet them. This is no problem but obviously something I'd like to avoid if I could.
2) Some people have told me it must be witnessed by a lawyer, some say a JP...some say any non-family member is OK. If I get this wrong I'd have to start again which I don't want!
3) Some say because I have power of attorney over them, I can just do it all. But I have also been cautioned that most banks don't allow this.
So what exactly are the Bankwest rules!?! I called them up and either got passed around a million times or they answered with such little confidence that I suspect they were just guessing.