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Updated about 4 years ago, 11/21/2020
Wholesaler Purchase Agreement: Which Seller Can Legally Sign?
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