This week Dawn suggests a more efficient way of delivering and receipting option checks.
Wow....very informative...liked the Selfie and the Venmo? recommendations.
I'm not familiar with VENMO. Is it safer/ more secure than PAYPAL? Benefits to one over the other?
Venmo and Paypal are quite similar, but do have differences. Here is a link to an article comparing the two that may be helpful for you Georgette. http://www.investopedia.com/articles/investing/072815/paypal-vs-venmo-function-versus-fun.asp
We always ask the other agent for receipt of the Option Fee on page 9. It's an important payment (as is the Earnest Money for title companies) for our clients and preserves an important right in the contract. When representing buyers, we try to make it the first payment so the title company gets to COMPLETE a Page 9 receipt and deliver it to all parties, thus leaving no doubt as to 'delivery' of all checks. But we take selfies or video of the delivery to agents at their home offices or weekend-closed offices, when needed. We never mail.
FYI, we have represented many clients under 30 years old and have never run into one who could not produce a check or certified funds of some type (cashier's check or money order). Until everyone has educated access and is comfortable with these online payment systems, we'll keep asking for checks, if available. Good stuff, though. Some different options out there. Thanks, Dawn!
Dawn please please keep them coming! I always learn something from these amazing tips! Now I need to go google Venmo...I'm not a millennial!