So you have? Has your buyer ever had to use a copy fo the POA in lieu of the orignial (in the mail
)? Lender has Ok'd using the copy of POA until original arrives from buyer (buyer in IRAQ). Dilema, Title company will not complete closing transaction without original POA, which may take 2 weeks to get here. We were 30 mins away from closing today when we were notified. Does anyone know a Title Comany in the DFW area that would allow us to close with a copy of POA ? The original is in the mail and coming from IRAQ. The lender is satisfied with the copy and has now problem closing. Your referrals would be very much appreciated. We are ready to close. Thank you in advance
Unless you have originai copy you won't be able to close. I would have requested up front due to many scams out their. Appears buyers if in Iraq won't be moving in at closing just a problem for seller, IF it is not a foreclosure.
Sorry hear about the problem
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911
Any notaries in Iraq? Typically internationally the buyer has to go to embassy which probably is not possible in Iraq, but perhaps at their unit there is a notary. If so perhaps the docs you need can be emailed or faxed, signed, notarized, and faxed back to you. The original copies put back in the mail. How's that?
I have a buyer who just purchased a home using a scanned copy of the POA from her husband/serviceman in Iraq. There is no FEDEX from Iraq so we were told it would take about 1-2 weeks to get the original via snail mail. Thanks for the heads up about the problem. I was under the impression we were going to need the original at the closing. Luckily, we are not closing until the end of August.
The buyer had a POA when she started the process. It was a standard POA for servicemen going into war zones. It allowed her to sell a house but not purchase one. We scurried when we realized that we had to get a new one.
Regards,
Joe
It doesn't matter what the circumstances are, title companies ALWAYS require the original POA.
Too much fraud going on these days so it's a CYA practice.
Naima
Forgot to add buyer is a Civillian working in IRAQ. Loan approve, Docs ready,!
If it's a Armed Forces POA, Title Company should be able to close it now. If it's not, they may have to wait. Tell the closer that they need to speak with their attorney about the hold up this is causing.
Didn’t find what you were looking for? Ask a question!
|
|
|
|
|||||||||||
|
|
|
|
|
|