Most agents just sell real estate and don't always pay a lot of attention to the specifics of legal documents. Paperwork is often the last thing an agent wants to deal with. That's why so many busy agents have full-time assistants to assist. But it's helpful to maintain a basic understanding of what you need to know to help your clients successfully close escrow.
When we sent documents to Alaska for a buyer to sign on her behalf and on behalf of her husband stationed overseas, we thought we had covered all of the bases. We made sure the power of attorney was correct. The escrow officer also sent detailed instructions on exactly and precisely how to sign with a power of attorney. In addition, the buyer's mobile notary received specific instructions on how the buyer was supposed to sign.
After the buyer finished signing, she asked the mobile signer to verify that everything was signed correctly. The mobile signer checked the documents, all clear, and then FedXed the docs to escrow. Excited to record, the escrow officer opened the package. We had funds. We could release. Uh-oh, the documents were not signed correctly. We could not record on Friday.
The biggest issue was the seller had packed and moved everything out of her house. She was waiting for the funds to reach her escrow company that afternoon so she could move into her new home. But it didn't happen. Because of the way the buyer had signed with the power of attorney. You won't believe what she did. You can read more in my personal blog today at this link: Signing With a Power of Attorney for Sacramento Real Estate.
Certified HAFA Specialist
Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.
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Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.