If a person wants to authorize someone else to sell his house "by owner", does the person have to sign a power of attorney?
2006-09-26 12:07:33 · 8 answers · asked by Whatever 2 in Business & Finance ➔ Renting & Real Estate
not necessarily, although it is a good idea to do so.
if someone else "acts" as an agent for the homeowner but did not sign any express agency agreement, his/her actions may be considered an agency relationship in a court of law.
the power of attorney documents may limit the person to do very specific things. this could limit the homeowner's liability if something wrong were to happen.
2006-09-26 12:13:27 · answer #1 · answered by loveholio 5 · 0⤊ 0⤋
That is the dumbest thing you can do. Two main reasons why real estate do not sell. One, over pricing and two if your home is the best kept secrete. The market is coming down, you need help with pricing and for what ever fewer number of buyers driving around, you need to be fortunate enough to have someone driving by, see you house, like your house and can afford your house. Those happening all at the same time are pretty long odds. Third, someone else doing you a favor is not going to put the kind of time and dedication as you doing it yourself. Finally, if you pay the guy, both of you may be committing a felony, punishable by fine or jail terms.
2006-09-26 17:05:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Even if you had power of attorney over financial affairs because the owner was incapacitated for whatever reason, you could not sell the home by yourself. You would have to retain a real estate agent or a real estate attorney. Check with the laws for your state because you have to include the power of attorney when the sale is recorded at the courthouse.
2006-09-26 15:35:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Selling a house by owner is a bigger headache than it's worth. Go find a reputable real estate company and ask questions. If you don't like what you hear, you can always try another one. Alot of times, the "by owner" houses sit longer than ones that are listed with a real estate company. I personally would not touch a "by owner" home. Anytime you are dealing with property questions, it is always best to have a lawyer who can answer them for you.
2006-09-26 12:20:17 · answer #4 · answered by hazeleyedbeauty1967 6 · 0⤊ 0⤋
If you're going to pay them chances are that your real estate laws in your state prohibit it unless they work for you as a full time employee or you have a limited power of attorney. If I was you I would go to my state's real estate commission web site and ask them on their contact us button. I've never had any problems getting assistance from any real estate commission that I have visited with real estate questions.
Buena Suerte
2006-09-26 12:13:36 · answer #5 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
Only if that person is going to sign the paperwork and such. You can help someone sell their house -- IE show it and discuss it, but when it comes down to the purcahse and sale and the closing, you would need to have POA.
2006-09-26 12:10:31 · answer #6 · answered by Anonymous · 0⤊ 0⤋
If you mean by "sell" to include signing off on all the documents, yes. But if you just mean to show the property and locate a willing buyer, no.
2006-09-26 12:12:57 · answer #7 · answered by Pete 4 · 0⤊ 0⤋
it would be a limited power of attorney for that transaction only
2006-09-26 12:16:40 · answer #8 · answered by David F 1 · 0⤊ 0⤋