Financing in Denver>Question Details

Cableman, Both Buyer and Seller in Winston Salem, NC

Can my sellers agent sign on my behalf at closing on a FHA loan?

Asked by Cableman, Winston Salem, NC Thu Jan 19, 2012

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Considering that express mail, fax, and e-mail are available you could sign them on your own behalf.
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1 vote Thank Flag Link Thu Jan 19, 2012
I don't believe that FHA will accept that, even with a Power of Attorney. Your lender will know the answer to that question and is probably the best person to ask. In any event, it is not a good idea for you to have your agent sign. You should give a Power of Attorney to a trusted, disinterested party. You may want to discuss this with your real estate attorney.
1 vote Thank Flag Link Thu Jan 19, 2012
Hello Cableman:
Agree there is some confusion regarding the wording of your question. You don't have to be present for a closing in a different state. The suggestion to use a power of attorney is a good one. But, whether you sign the document and return it (via FedEx) or whether you let someone else armed with a power of attorney to sign on your behalf, make absolutely sure you have a copy of everything (and compare with the actual signed documents).

PML of Longmont, CO
720 810 0683
0 votes Thank Flag Link Tue Jan 24, 2012
HI Cableman:

I'm a little confused about your question. Concerns about "interested parties aside," a "seller's agent" should never be allowed to sign anything for the buyer because the seller's agent is not acting with the best interests of the buyer in mind. In Colorado, for example, the best you could hope for is that the licensee is a "transaction broker," which means he/she is favoring neither side.

So I may be picking nits here (for which I apologize), and you probably meant to say "buyer's agent." Even in this case, I would agree with the others that using any agent to sign for you is a bad idea and probably would not be accepted by a lender. However, you should know that there are a number of options if you cannot attend a closing. There are others to whom you can grant a power of attorney. Also you can handle the transaction through several electronic avenues –– the easiest probably being one of the services that let you sign documents online. Finally, closings do not have to occur with all parties at the same place at the same time. You execute your part of the deal in one place while the other side executes its part elsewhere. Or, the parties can simply come to the same closing company at different times. Hopefully, one of these options works for you. Check with your agent and the closing company to learn what is possible in your area.

Kind regards,
Ron Rovtar
Prudential Real Estate of the Rockies
Days: 303.981.1617
Evenings: 303.473.1926
0 votes Thank Flag Link Tue Jan 24, 2012
Hi there! Any agent who is a part of the transaction is considered an interested party and cannot sign for the buyer. A Power of Attorney (POA) can be given to a non-interested party or co-borrower/ spouse on the loan. The lender and title company will both need to approve the POA.

Hope that helps!
Vickie Newman
Real Estate Mortgage Network
0 votes Thank Flag Link Thu Jan 19, 2012
I do not think you should consider that an option for several reasons.
0 votes Thank Flag Link Thu Jan 19, 2012

I agree with Heather below. Although your agent is your representative in this process, it is not a good idea for the agent to sign the papers at closing due to the particular liabilities involved. There is a power of attorney available that the title company can provide to do this, but I would not suggest it. Another trusted relative or friend could sign a power of attorney and sign for you, but again this is usually not necessary. The papers can be sent to you in advance of the closing by Fed-ex and signed and notarized at a locally assigned title company. This would be the best scenario if you are not possibly available for the day of closing. Again, if it is an FHA loan closing, I would have your agent contact the lender and the title company to find out the latest FHA guidelines on this just for the record. I hope this helps.

Robert McGuire ASR
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct – 303-669-1246
0 votes Thank Flag Link Thu Jan 19, 2012
Ditto to Phil's answer. Suggest to the agent to always distance his/herself from signing for clients. Ed Quinn
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0 votes Thank Flag Link Thu Jan 19, 2012
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