I have an important question but I will explain the situation first.
I have been a signing agent for 16 years and never ran for into this until now.
My ex-husband sold the house that we both live in.
The buyer has a signing for his mortgage on this house.
I received a closing request for his signing.
Is it a conflict of interest if I accept the signing?
Personally I think there could be a hint of a conflict here - to play it safe, if it were me, I would not do it. It could turn into a real headache for you trying to prove you don’t have an interest in the transaction (which, IMO, you DO have an interest…you live in the house!)
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Are you receiving any of the proceeds of sale? If so, you’re not exactly a disinterested party. Other than that, I see no real concern…other than ‘avoiding the look of possible conflict of interest’. Once, I was hired by SS, but then questioned by Title to be sure I was NOT related in any way to signer because we had same last name. I wasn’t, but they cancelled with me anyway.
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I don’t gain anything from the sale other than I will no longer need to be in the same house as my ex.
I do feel it as a conflict but wasn’t exactly sure because I have never been in this situation.
Thank you for your incite I do appreciate it.
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If I don’t have a conflict of interest, then the only difference a signing makes to my life is that if the signing occurs, I most likely receive my full fee, and If the signing does not occur, there is a greater chance I won’t receive my full fee. I think it’s also acceptable that the signer will probably be in a better mood if the signing occurs, and I might see the signer on other occasions than the appointment.
If the signer’s decision to sign or not, or my decision to accept the signer’s ID or not, will have any other effect on my life, I have a conflict of interest.
What are you being paid to do the signing? $100? Why risk your commission for a lousy signing fee. My advice? Run, don’t walk. Why take even a remote chance that this could come back and bite your backside.
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You do not own the property & will receive no proceeds. I do not believe there is a conflict of interest. You have no interest in the transaction. It is only a coincidence that you got the job.
I would do the closing & not discuss my former ownership to avoid wasting time, and possibly endless questions, but I never chit chat at any job.
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I wouldn’t do it. You have a history with that house even though you are moving past that part of your life.
All due respect - but two things as for paragraph #1 regarding no interest, unless you’ve seen the Settlement Agreement between the parties and the final divorce decree, you can’t say that with any degree of certainty.
As to paragraph #2 - just an aside from my previous experience - we refinanced our home back in CT one year - I worked for the attorney who handled my closing, conveniently as a real estate closing paralegal - when the lender found out I was working my own file they discussed this with my boss - it was against their policy for me to work on my own file.
I think it’s best to avoid it at all costs - just not worth it.
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I had chosen to have someone else complete the closing. I explained why and the signing company was good with my choice to not risk it.
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Good for you Barbara - I think you can rest easier with this decision.
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I think there would be a conflict of interest. Call your state board.
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