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.
I would not ever give my POA even to a lawyer for any substantial purchase/sale.
We purchased our TN retirement home while in NY. Only we didn't. Everything was all set up, day of "closing", we finally got all the documents only to find a serious issue with the description. I contacted our attorney and said "HOLD everything. Do not disburse funds" until I get a proper description including the missing acreage. At that time, I also contacted the bank to alert them. Lawyer sent me a "corrected" deed which simply added the missing land with a description of land that the beginning and end did not meet. I again said no closing until I have a good deed and I will see you tomorrow. I bought us plane tickets for the next day and we were off. I was livid. When I arrived, the corrected deed I was given that day (the 3rd description) had the original partial acreage with an extra sentence saying: also included is parcel deeded in book/page added to the original metes and bounds. I said she had 24 hours to give me a proper deed or I'd be contacting the local bar association and the title company. I got a proper deed the next morning and the closing went through. I still informed the title company and sent them copies of the 3 previous "descriptions". She is no longer with that firm and hopefully is no longer practicing r/e law.
What saved us was that I had been a title examiner and my husband had software to calculate land area that he used in his govt job.
Had I given my POA to either the realtor or the attorney, we would have been left with a house on a parcel of land we did not own.
Yes, if you want to give Power Of Attorney to a brother, do so. If you trust your brother(s). To ME, that would be greatly preferable to having the agent sign, and I say that as an agent. I don't want to sign stuff for my clients when I have a conflict: deal closes or I don't get paid.
But, any decent firm, any decent agent can overnight forms to you, or email them for you to print, with you signing in front of a notary public, and overnighting them back for closing.
Happens all the time.
I have signed HUD(back in the day) as POA, and only after reviewed by my client and instructed to do so.
But, I NEVER have sought a POA or suggested I accept the responsibility. It is always at the request of the client when we are short of better alternatives and must have only wet signatures. It has been several years, and I don't mind if I never have to do it again.
Location: Sarasota/ Bradenton - University Pkwy area
4,614 posts, read 7,532,666 times
Reputation: 6031
As a real estate agent I would NEVER agree to act as POA for any customer, ever. It screams conflict of interest.
If the seller does decide to use a POA, make sure the POA is drawn up by a lawyer not affiliated with the closing and that the terms of the POA are very specific as to what can be signed on your behalf.
I do agree with some of the other posts that even if the seller can't physically attend the closing there is no reason to use a POA. Many closings, especially in the days of Covid, are completed without one or both sides in attendance and without the use of POAs.
I would not ever give my POA even to a lawyer for any substantial purchase/sale.
We purchased our TN retirement home while in NY. Only we didn't. Everything was all set up, day of "closing", we finally got all the documents only to find a serious issue with the description. I contacted our attorney and said "HOLD everything. Do not disburse funds" until I get a proper description including the missing acreage. At that time, I also contacted the bank to alert them. Lawyer sent me a "corrected" deed which simply added the missing land with a description of land that the beginning and end did not meet. I again said no closing until I have a good deed and I will see you tomorrow. I bought us plane tickets for the next day and we were off. I was livid. When I arrived, the corrected deed I was given that day (the 3rd description) had the original partial acreage with an extra sentence saying: also included is parcel deeded in book/page added to the original metes and bounds. I said she had 24 hours to give me a proper deed or I'd be contacting the local bar association and the title company. I got a proper deed the next morning and the closing went through. I still informed the title company and sent them copies of the 3 previous "descriptions". She is no longer with that firm and hopefully is no longer practicing r/e law.
What saved us was that I had been a title examiner and my husband had software to calculate land area that he used in his govt job.
Had I given my POA to either the realtor or the attorney, we would have been left with a house on a parcel of land we did not own.
That makes used car sales people look GOOD.
I'm so happy you were paying attention and they didn't get away with another scam.
My siblings and I own an undeveloped parcel of land about 100 miles away, and have accepted an offer. The realtor has arranged Single Source Real Estate Services for the closing, and the documents that have been prepared (thus far) have some errors that need to be fixed. The closing is about 10 days away. Have you all had experience with Single Source Real Estate -- and is this a firm and process that you recommend?
Also, the realtor and Single Source Real Estate want to do the closing without us present, by giving our realtor Power of Attorney, which I'm not exactly crazy about. Any opinions on that? (I'm in North Carolina, if that matters.) Two of my brothers are more comfortable driving/going to the actual closing , and I'd feel more comfortable giving one of them my POA than the realtor. Actually attending the closing is an idea that hasn't been welcomed by the realtor and SSRE.
Any thoughts, guidance or insights you can share? Should we seek out our own attorney to review the documents and perhaps participate in or conduct the closing? Thanks in advance.
At any time have you or any of your siblings asked the agent "why?"
I'm so happy you were paying attention and they didn't get away with another scam.
Yeah. Agreed.
When you recommend people use attorneys to get through a transaction, of course you will remind them going forward to look out for attorney incompetence and scams!
Last edited by MikeJaquish; 08-02-2021 at 04:55 AM..
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.
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.
