Posted by Stacy (AZ) on March 28, 2003 at 09:31:18:
For the initial due diligence, to check the loan bal. and payments, you need an Loan Authorization. When you close you’ll need a Limited Power of Attorney, which is for the property only.
Loan Auth or POA? - Posted by Kristine-CA
Posted by Kristine-CA on March 28, 2003 at 09:10:48:
What do I need to talk to a lender about loan details? Is it just a form where the seller gives their permission, or do I need a power of attorney doc? Also, for subject-to deals, is it a good idea to get a POA? If I were the seller, I would have a problem giving poa to an investor. Is there such a thing as a limited power of attorney, limiting it to the just the real estate deal, etc.
Thanks, Kristine