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Special or Limited Power of Attorney for Real Estate Purchase Transaction by Purchaser New York Form

Special or Limited Power of Attorney for Real Estate Purchase Transaction by Purchaser New York Form

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[Music] we always have transactions that want to use a power of attorney or POA but lately we seem to have a lot more than usual Powers of Attorney can be used when the buyer or seller cannot attend the closing in person and need someone else to sign for them the principle is the person signing the power of attorney giving the authority to someone else and real estate transactions this would be the buyer borrower or seller the person receiving the power who acts on behalf of the principal is referred to as the agent not to be confused with the agent acting as their real estate agent the POA can be limited or general a limited power of attorney also known as a specific power of attorney limits the appointment of the agent to conduct only specific acts and in the case of a real estate transaction the acts are typically limited to those necessary or appropriate for the buying or selling of a specific property on the other hand a general power of attorney allows the agent to act for the pr

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