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Updated over 9 years ago, 05/03/2015

User Stats

94
Posts
16
Votes
Reginald S.
  • Wholesaler
  • Manning, SC
16
Votes |
94
Posts

Please Help! Who signs the purchase-agreement when their is a power of attorney?

Reginald S.
  • Wholesaler
  • Manning, SC
Posted

I have a seller that's helping her parents sell their home to me. She has power of attorney over them both. My Questions is:

1. Whose name do I put on the purchase-agreement? 

2. Who signs it?

Thanks in advance for all of your valuable advice and expertise.

User Stats

5,116
Posts
5,168
Votes
Kyle J.
  • Rental Property Investor
  • Northern, CA
5,168
Votes |
5,116
Posts
Kyle J.
  • Rental Property Investor
  • Northern, CA
Replied

I recently sold a house to a husband and wife where the wife had POA over her husband because of his failing health. Both of their names were listed on the purchase contract, but the wife signed for both of them.

User Stats

1,121
Posts
242
Votes
Al Wilson
  • Investor
  • Daphne, AL
242
Votes |
1,121
Posts
Al Wilson
  • Investor
  • Daphne, AL
Replied

As this is a legal question that bears on the enforceability of the contract, you should consult a real estate attorney.

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User Stats

176
Posts
121
Votes
Michael Delpier
  • Investor
  • Houston, TX
121
Votes |
176
Posts
Michael Delpier
  • Investor
  • Houston, TX
Replied

when I bought my house I had power of attorney for my wife. I signed my name and signed my wife's name as "(her name printed) by (my name signed) POA" there were accompanying documents of the POA and noterised.

User Stats

379
Posts
740
Votes
Michael Hayworth
Pro Member
  • Contractor
  • Fort Worth, TX
740
Votes |
379
Posts
Michael Hayworth
Pro Member
  • Contractor
  • Fort Worth, TX
Replied

Are you using  title company for this transaction? If so, I'd simply ask them.

(By the way, developing  good relationship with a title company you use over and over again is a real benefit to an investor.)

  • Michael Hayworth
  • User Stats

    93
    Posts
    40
    Votes
    Karl James
    • Land Investor
    • Fulshear, TX
    40
    Votes |
    93
    Posts
    Karl James
    • Land Investor
    • Fulshear, TX
    Replied

    @Michael Hayworth I can't agree more w/r/t building the relationship with the title company, and perhaps one step further, the closer (or whole team) within the office.

    User Stats

    94
    Posts
    16
    Votes
    Reginald S.
    • Wholesaler
    • Manning, SC
    16
    Votes |
    94
    Posts
    Reginald S.
    • Wholesaler
    • Manning, SC
    Replied

    Thanks guys. We are currently closing our deals with a local attorney which is the closing protocol here in SC. Our attorney is one the kindness individuals in our network. However we're still working on his office staff. lol.

    User Stats

    13,450
    Posts
    8,349
    Votes
    Steve Babiak
    • Real Estate Investor
    • Audubon, PA
    8,349
    Votes |
    13,450
    Posts
    Steve Babiak
    • Real Estate Investor
    • Audubon, PA
    Replied

    The one with POA is not the seller; the POA only allows the person to act on behalf of those who granted the POA. Seller names will be the names of those who granted the POA (and those named on title), and the one with POA can sign on their behalf. BTW, a separate POA would be needed for each named owner I believe.