Real Estate Law | Sellers who can’t be present at closing have options
Dear Mr. Feichthaler:
I am in the process of selling my home, and the closing date is next week. I have an out-of-town commitment that I cannot get postpone. Can my friend sign documents for me at your firm?
Tracey G.
Dear Tracey:
I have handled many transactions where a seller could not be physically present for the transaction. There are several ways this can be addressed. First, you may be able to pre-sign documents prior to the closing, particularly if your buyer is not financing their purchase through a lender. You can sign all documents prior to your departure, including the deed, and we, as escrow agent, would hold the documents until the buyer signed their documents and sent closing funds.
Another option, particularly if documents from the lender need to be signed on or near the date of closing, is to empower someone to sign for you with a Limited Power of Attorney. You would need to have this documents prepared, signed, and notarized prior to your departure, and the person you designate could sign all documents relating to the sale on your behalf. We would record the power of attorney along with your deed, to place in the public record that your friend could legally sign for you.
Finally, we could send you the closing documents to be signed and notarized to your location out of state. You would return them by express mail, since original documents are needed for recording.
These are the primary ways to resolve your inability to be here the date of closing, but you could also ask to postpone/move up the transaction if it is important to you to physically attend. However, as you can see, you have several options to close your transaction, on time, without your physical presence the day of the closing.
Eric P. Feichthaler has lived in Cape Coral for over 38 years and graduated from Mariner High School in Cape Coral. After completing law school at Georgetown University in Washington, D.C., he returned to Cape Coral to practice law and raise a family. He served as mayor of Cape Coral from 2005-2008, and continues his service to the community through the Cape Coral Caring Center, and serves as President of the Cape Coral Kiwanis Foundation. He has been married to his wife, Mary, for 25 years, and they have four children. He earned his board certification in Real Estate Law from the Florida Bar, and practices in real estate law, estate planning, and wills and trusts. He is AV Preeminent rated by Martindale-Hubbell for professional ethics and legal ability, and is a Supreme Court Certified Circuit Civil Mediator. He can be reached at eric@capecoralattorney.com or 239-542-4733.
This article is general in nature and not intended as legal advice to anyone. Individuals should seek legal counsel before acting on any matter of legal rights and obligations.