Power of Attorney Question
I just found out that my closing date–which has been bouncing around like a frigging ping pong ball–is now scheduled for the day before I go on a long vacation. My attorney would charge $200 to execute a POA. How complicated is a POA? Can I basically assign that to anyone I know and provide…
I just found out that my closing date–which has been bouncing around like a frigging ping pong ball–is now scheduled for the day before I go on a long vacation. My attorney would charge $200 to execute a POA. How complicated is a POA? Can I basically assign that to anyone I know and provide all the necessary signed checks so everything can be completed in my absence?
I really just need someone to sign on my behalf, right?
Can I assign it to my broker or would she have a conflict of interest?
I assume there is a standard form or very specific language I need to use?
Thanks in advance!
I did a POA because I was out of town for our closing (both of them actually). We did not pay extra for it. I viewed it as a bonus, the closing can take hours. If you trust your atty it should all be fine. Much easier to hear the highlights afterward 🙂
Give it to whomever you trust, either your attorney or your real estate agent or a third party. Will you be available by phone to speak with them should any issues come up??
As far as the cost, most attorneys would include this and it’s often done by your attorney giving him the power for “incidentals.” I guess the pre-paid legal program would charge more. At $1,300 you’re still looking OK
You still come out ok Matt, that seems like a fair total if your attorney has anything like the workload ours did. I can’t believe how byzantine NY real estate transactions are!
Hrmmm. I guess that was the downside of getting a discount via a pre-paid legal program from work. The total was 1100, so I suppose anything like that would be an add-on.
Our attorney did that for us as part of the flat 1500 fee she charged to do our real estate transaction, from contract negotiations to closing (worth every penny). She didn’t charge us extra for the POA and said she had to be at the closing anyway. We had to fill out some forms that she supplied us and get them approved by the bank.