Documents?
Whats going on ted...Im getting all my necessary paper together to do a short sale.. I wanted to know besides the P&S contract what other documents i need..because i hear alot of stories but im not sure which one to follow.. i decided to not take the deed im just going to use P&S contract to tie up the deal..Now do i need a Limted Power of Attorney letter for the seller to sign? and do i need a CYA letter for the seller to sign?
I believe what have so far is a P&S contract, Real estate Disclosure, Escrow letter and Authorization of Release. Am i correct? is that all i need to tie up a short sale?
thanks for help.....
hi my 2 cents
how about the hardship letter from the homeowners, written list of repairs from a contractor, netsheet, get the limitied power of attorney to control the deal. all i can think of at the moment.
amynewbie
is limited power of attorney the same as power of attyorney? because when i go to sites that has forms that is what most say...
thanks.......
double check but, power of attorney is given for long term tramsactions for said property and limited power of attorney is short term transaction for said property.
meaning with limited power of attorney, once you close with that particular property, you have no more power of attorney for any other property the homeowner may have.
hope this helps
amynewbie
one more question do you have to record the limited power of attorney?
thanks..........
you got me on this one, i dont know but i will guess:
i dont believe the power of attorney needs to be recorded, just needs to be one of the needed documents so you can show up as the seller and sign all required documents to get property closed. it does need to be notorized by the seller.
amynewbie