Real Estate Vocabulary

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Power of Attorney (POA)–  A written instrument authorizing a person to act as the agent on behalf of another to the extent indicated in the instrument.

Quite often, this instrument is used when a seller is unable or chooses to not attend their settlement. They typically give their attorney POA to sign all documents. This is common when a seller is on vacation, sick or too emotionally distraught to be at the actual “finality” of the transaction.  Once in a blue moon, a seller will give their friend or real estate agent POA.

While I understand these issues, it can on occasion make any last minute issues, i.e., walk through issues a challlange to overcome, especially when the seller is not available by phone from the settlement table.

   

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