Tips for Transactions with Power of Attorneys – Dodie Schmaltz
In real estate transactions, there may be instances where sellers are unable to personally sign important documents. Whether it’s due to being abroad or having limited physical abilities, appointing a power of attorney can provide a solution.
When utilizing a power of attorney, it is crucial to verify that the seller fully comprehends and consents to its use. This can be achieved through direct communication with the seller, confirming their understanding of the situation. In cases where the seller is incapacitated, obtaining a medical note from a doctor certifying their condition becomes necessary.
The use of power of attorney grants flexibility for sellers facing unique circumstances. For example, elderly parents who require assistance with property sales or individuals traveling abroad may find this option beneficial. By appointing an agent through a power of attorney, sellers can ensure that their interests are represented even when they are physically unavailable.
If you think this is a viable option for your transaction or there is already a power of attorney in place, make sure to communicate with your Escrow Officer to see if any additional documentation is needed.
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