Power of Attorney – A Simple Real Estate Solution

A little experience sometimes goes a long way. Currently I am working on a deal for a buyer (actually there are three buyers), where one of them flies for a commercial airliner. It is getting down to a few weeks before closing and the loan officer was exacerbating me with the blow-by-blow details of how they are going to get a notary to the airport for the buyer to sign on his 20 minute turn-around from Sacramento CA to Tokyo Japan. I finally said, “Have you thought about having the husband give the wife power of attorney?” The loan guy kind of blew me off, as he was entrenched in his master plan of getting the notary to the airport terminal.

Power of attorney is a simple form that one can buy at any office supply store or buy online, fill it out, and have it notarized. It gives the assigned person the right to sign on behalf of – in this case real estate and loan documents.

I just chatted with the buyer’s wife this morning. She called to tell me that they got the power of attorney in place, and thanked me profusely for suggesting this action. Why didn’t the loan person think of this? At the end of the day, we are a team and I hope that someone gets by back when I am fumbling or dropping the pieces. There are many roads to get the deal done, but a little experience may save a lot of pain, emotions, time, and hardship.

In my undergraduate studies in business and public administration, the picture used for administration was that of a duck – graceful on the surface, yet paddling feverishly underneath the water. I really enjoy thinking creatively on behalf of my clients and tend to get compliments on how smooth things go, despite the “roller coaster ride” of the transaction and feverish paddling that no one may ever see.