Common Mistakes of Power of Attorney at a Real Estate Closing

**powerofattorney** · 02-10-2012, 01:43 AM

We have all been in the position where one of our buyers, agents, or somebody that has to be at a real estate closing and cannot make it assign power of attorney to somebody else. Most of the time, the correct "limited" or "special" power of attorney form is authorized, but about once every other year, I see the durable power of attorney form used.

What is so bad about a Durable Power of Attorney?
There isn't anything wrong with the form, but with a limited power of attorney form, the form becomes null and void right after the closing. In a Durable Power of Attorney not only does the form stay valid, but the person can act in your shoes for "anything legal under law." Since most people are so excited, especially right now about selling anything in real estate, they forget the fact they may have signed their life over to someone else.

Now, some of you maybe may think that I am being a little over the top, but let me tell you I have seen some crazy things in my 30 years experience and would not want anyone being caught in a bad place especially in this economy.

**Leonard Vice** · 03-27-2012, 09:16 AM

What do you want to point out about the power of attorney? There are certain areas where real estate attorney can only know of or handle about. And their power over it is still limited to certain areas of knowledge only.

**MAngo Condo** · 04-24-2012, 08:14 PM

I agree with the OP, does anyone need to give durable power of attorney to an agent?
Unless it is for a long term rental where the agent is collecting rents etc I would have to ask why...?

**Scintillion** · 04-29-2012, 08:16 PM

Definitely good advice. Would certainly not be a good idea to use the wrong POA form when doing a real estate closing. Looks like you have all the different POA's covered in those signature links you have, though. Now, as long as you click on the right one - should be in good shape!

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