"Power of Attorney" Form..HELP !! - Posted by Rob

Posted by Chandra on November 07, 2002 at 16:18:17:

Rob,

It depends on what kind transaction you have
with the Seller right now.

But basically it gives you the same power as
the Seller to deal with mortgage/insurance/etc
regarding the property involve.

I usually tell them honestly why I need it signed.
I’d tell them that calling them everytime I want
to check on the balance of the loan is incovenient
to me. I would prefer to deal with the bank/insurance
company directly rather than going through the Seller.

I have what is called "Limited Power of Attorney"
sometimes the word “limited” gives the Seller a bit
of a relief somehow…eventhough if you read the
agreement you’ll find that I can do pretty much
anything that the Seller can to the property.

I hope it helps a bit.

Happy investing!

“Power of Attorney” Form…HELP !! - Posted by Rob

Posted by Rob on November 07, 2002 at 14:43:53:

I had a seller ask me what this form was for and I blanked out…they get scared when they hear that name…

What can I tell them, in a short concise statement, that a “Power of Attorney” form does?

Thanks !