Whenever possible, you should strive to attend your settlement in person, whether you are buying or selling. Besides signing the paperwork to complete your real estate transaction, you’ll get valuable information about what you’re signing and what will happen going forward.
But sometimes, missing your settlement cannot be avoided. In that case, you need to have someone represent you at settlement. To legally sign the papers on your behalf, you will need to give that person power of attorney.
Power of attorney is a legal document that allows you to appoint someone else to manage your affairs for you while you are unable to. A general power of attorney gives the person broad power over your affairs; this type of power of attorney is generally used when someone is out of the country for an extended time or is mentally or physically unable to manage their own affairs and business.
When you’re buying or selling real estate, you want a special power of attorney. This allows you to be specific about the powers that your representative has on your behalf. This type of power of attorney will be limited to your real estate transaction.
Does your representative have to be an attorney? No! Choose a trusted relative or friend to act on your behalf.
Got questions? Foote Title Group can help you set up your power of attorney and make sure everything is in order.
