Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We had a house purchased cancelled the day before settlement because the husband had signed, the wife had fully agreed to sign (separation or divorce) and decided not to at the last minute.
OP, if you are closing through an escrow company, ask your escrow agent to review the file and tell you whether or not you can close without the wife's signature at this point. Because they are issuing the title insurance, they for sure aren't going to do anything hinky about the title. Either they can give you a clear title or they won't close.
If you are not closing through an escrow company, then you have a lawyer and you should show the paperwork to him and ask him.
You probably have a legal contract. However, suppose this is the case and the wife dies. The property is likely titled "and," rather than "or" - which, unless the wife has a POA, could complicate or delay your closing. It's best to get this issue resolved now, rather than at the closing.
Common misconception. A Power of Attorney dissolves upon the death of the party being signed for. So if the wife were to die, the power of attorney would mean absolutely nothing. An entirely different process is necessary then. Expect significant delays if that happens.
Always a safe answer and probably a good idea if the house was worth fighting for. But if we're really at the point that attorneys need to be brought in, the house isn't worth it to us. As I said before, if it's not meant to be I am ok with walking away and starting over. Having said that, I'm not convinced we're at the point where we need an attorney. I want to believe that all that's needed is a little patience on our part.
I don't understand why people are so dead set against having a real estate attorney to protect their interests. This is a major investment you're making. In NY we always use real estate atty's and they're really not expensive. They look over the contracts and make sure everything is in order and can give you accurate advice on the issue that you're having a problem with. What if someone here, or even the agent gives you the wrong advice.. you could potentially lose any money you've put down on the house.
OP, if you are closing through an escrow company, ask your escrow agent to review the file and tell you whether or not you can close without the wife's signature at this point. Because they are issuing the title insurance, they for sure aren't going to do anything hinky about the title. Either they can give you a clear title or they won't close.
If you are not closing through an escrow company, then you have a lawyer and you should show the paperwork to him and ask him.
That sounds like a smart idea! I'll try it. Thanks for the suggestion.
Is the wife dying? That is a special circumstance, for sure. It sounds like that power of attorney is needed for all her affairs, and that is what is holding things up. Someone, agent or owner, should be able to keep you up to date on that.
We're wondering the same thing. The news came as quite a surprise. We talked with her just a few weeks ago when she called to see if we were still interested in the house. At the time she sounded healthy and energetic (at least, as much as you can tell from a phone call). They wanted to take our deal so they could be done with showing the house and take a long trip to Italy. I would never have guessed that just a few weeks later we'd be wondering if she was about to die.
I guess things can turn on a dime sometimes. Especially after 70.
I don't understand why people are so dead set against having a real estate attorney to protect their interests. This is a major investment you're making. In NY we always use real estate atty's and they're really not expensive. They look over the contracts and make sure everything is in order and can give you accurate advice on the issue that you're having a problem with. What if someone here, or even the agent gives you the wrong advice.. you could potentially lose any money you've put down on the house.
In NC, the attorneys already reviewed the contracts used in the majority of residential resales.
That is one of the benefits of having a standard forms library.
Contracts are jointly developed with the help of NCAR, NCREC and the Bar Association.
Anyone can have an attorney review an Offer prior to Contract, but will that attorney work on comps, contact the lender to be sure the details of the buyers' loan representation are accurate, and confirm that the timeline is accurate?
I don't understand why people are so dead set against having a real estate attorney to protect their interests. This is a major investment you're making. In NY we always use real estate atty's and they're really not expensive. They look over the contracts and make sure everything is in order and can give you accurate advice on the issue that you're having a problem with. What if someone here, or even the agent gives you the wrong advice.. you could potentially lose any money you've put down on the house.
Since you always use them, they are everywhere and highly competitive. In lots of states there are far fewer available and less likely to be not expensive.
In NC, the attorneys already reviewed the contracts used in the majority of residential resales.
That is one of the benefits of having a standard forms library.
Contracts are jointly developed with the help of NCAR, NCREC and the Bar Association.
Anyone can have an attorney review an Offer prior to Contract, but will that attorney work on comps, contact the lender to be sure the details of the buyers' loan representation are accurate, and confirm that the timeline is accurate?
Maybe our home sales went too smoothly because I don't really who did what. I do know our atty was with us through the entire deal and changed some of the contract wording, and added some things.
Since you always use them, they are everywhere and highly competitive. In lots of states there are far fewer available and less likely to be not expensive.
That makes sense and something I didn't consider. Here it's unheard of not to use a real estate atty when buying or selling.
and yes, they're everywhere either solely or part of a legal firm that deals with all legal matters.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.