Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago, 11/21/2020

User Stats

46
Posts
13
Votes
April L. Williams
  • Wholesaler
  • Wilmington, NC
13
Votes |
46
Posts

Wholesaler Purchase Agreement: Which Seller Can Legally Sign?

April L. Williams
  • Wholesaler
  • Wilmington, NC
Posted

There's question as to "whom" (seller) has the legal authority to sign option to purchase agreement for (2) properties I'm trying to put under contract. I've got an individual wanting to put these properties under contract. However, the estate belonged to his father, who has passed, and the rightful heirs to both properties now belong to the individual wanting to sale, his brother, and several nieces/nephews (which I just confirmed with the estate attorney). The seller states he has power of attorney over his brother, AND that he's been unable to reach the rest of the heirs as they "appear" to be uninterested in what happens with the properties. I'm just trying to cover my butt here and not get wrapped up in something that could get messy and/or hurt my reputation by doing something out of ignorance. So, would I need to see a copy of the POA papers to prove this person can in fact sign for his brother, AND do I just take his word for it that the rest of the heirs are unreachable?? Any suggestions/advice on this matter?? This is my very 1st property I'm wholesaling, so I'm not really sure what to do....Thanks, April

Loading replies...