Power of Attorney

[happyardy 0]

Are there any downsides to me receiving the Power of Attorney from the seller? This particular seller lives far away and frequent trips to the city is a problem for her.

 

She asked me if she could give me Power of Attorney & if it was OK by me?. Any reasons why I should not take it?

 

thanks

- Rahul

[Jason (AL) 1]

Any reasons why I should not take it?

 

Nope.

It would be to everyone's benefit.

[MichaelC 160]

Are there any downsides to me receiving the Power of Attorney from the seller? This particular seller lives far away and frequent trips to the city is a problem for her.

 

She asked me if she could give me Power of Attorney & if it was OK by me?. Any reasons why I should not take it?

 

thanks

- Rahul

Only if that Power goes to your head and you start wearing military insignia and the folks start calling you General.

[happyardy 0]

Are there any downsides to me receiving the Power of Attorney from the seller? This particular seller lives far away and frequent trips to the city is a problem for her.

 

She asked me if she could give me Power of Attorney & if it was OK by me?. Any reasons why I should not take it?

 

thanks

- Rahul

Only if that Power goes to your head and you start wearing military insignia and the folks start calling you General.

 

Thanks, guys.

I think I'll ask her to give me a "limited" Power of attorney, just for specific property purposes or something.

- Rahul

[Rich_in_CT 0]

Are there any downsides to me receiving the Power of Attorney from the seller? This particular seller lives far away and frequent trips to the city is a problem for her.

 

She asked me if she could give me Power of Attorney & if it was OK by me?. Any reasons why I should not take it?

 

thanks

- Rahul

Only if that Power goes to your head and you start wearing military insignia and the folks start calling you General.

 

Thanks, guys.

I think I'll ask her to give me a "limited" Power of attorney, just for specific property purposes or something.

- Rahul

Is there a bad reason from your point of view? No. From her point of view yes, with that you can do nearly anything in her name. Your idea of limited power of atty would be a nice gesture on your part that would be viewed positively by her I'm sure.

[happyardy 0]

Are there any downsides to me receiving the Power of Attorney from the seller? This particular seller lives far away and frequent trips to the city is a problem for her.

 

She asked me if she could give me Power of Attorney & if it was OK by me?. Any reasons why I should not take it?

 

thanks

- Rahul

Only if that Power goes to your head and you start wearing military insignia and the folks start calling you General.

 

Thanks, guys.

I think I'll ask her to give me a "limited" Power of attorney, just for specific property purposes or something.

- Rahul

Is there a bad reason from your point of view? No. From her point of view yes, with that you can do nearly anything in her name. Your idea of limited power of atty would be a nice gesture on your part that would be viewed positively by her I'm sure.

 

Yeah, Rich.

Though it is the other way round, it is overwhelming for me.

We havent done it as yet; the seller emailed me asking about it today. I said fine.

I guess, she'll talk to her lawyer on Monday and we'll get it done.

thanks

- Rahul

[happyardy 0]

Yeah, Rich.

Though it is the other way round, it is overwhelming for me.

We havent done it as yet; the seller emailed me asking about it today. I said fine.

I guess, she'll talk to her lawyer on Monday and we'll get it done.

thanks

- Rahul

 

 

Her attorney talked her into giving him a Power of Attorney and not me. Thats perfectly fine by me. I am just hoping that the whole deal goes through and I get paid. I have done quite some work on this one !!

- Rahul

[MichaelC 160]

Her attorney talked her into giving him a Power of Attorney and not me. Thats perfectly fine by me. I am just hoping that the whole deal goes through and I get paid. I have done quite some work on this one !!

- Rahul

Probably for the best. One less thing for you to be concerned with.

How is the deal progressing so far, by the way?

[happyardy 0]

Her attorney talked her into giving him a Power of Attorney and not me. Thats perfectly fine by me. I am just hoping that the whole deal goes through and I get paid. I have done quite some work on this one !!

- Rahul

Probably for the best. One less thing for you to be concerned with.

How is the deal progressing so far, by the way?

 

MC,

After a few hiccups caused by the wrong & erroneous P&S agreement drafted by the seller's lawyer, now things appear to be back on track. The buyer had raised some valid objections to the agreement.

Anyways, the new P&S agreement(drafted by me, keeping the original format but taking care of the buyer's objections & a few additions) was signed yesterday by the seller and witnessed by her lawyer. The seller's lawyer is sloppy to say the least and is also egoistic. I have emails from this seller saying how she is just not happy with his work etc.

Anyways, long story short, she is sticking to him since she had used him once when she had bought this house 4 years ago & doesnt have anyone else.

 

Since the seller is flying out of the province today, I am delivering this signed agreement to the buyer today at 2:00 pm. The buyer will make an appointment with her lawyer Monday afternoon to get it reviewed and signed. As soon as she does that, she will send it to the seller's lawyer on Tuesday morning with her deposit and hopefully the ball will start rolling after that.

 

She'll need to get inspection done within 5 days after that. Her broker told me that she has been approved for financing.

 

We'll see how this goes. There are a few lessons that I have learnt already which I'll keep in mind for my next deals.

- Rahul

[MichaelC 160]

The seller's lawyer . . . is also egoistic.

Ain't they all, Rahul. Ain't they all.

There are a few lessons that I have learnt already which I'll keep in mind for my next deals.

If I've said this once, I've said it a hundred times: there is no education like experience. It only gets easier. I assure you that when a similar deal comes your way again next time, yuo'll breeze through it like an old pro. Stay on top of things in the meantime. Your payday appears to be around the corner.

[happyardy 0]

The seller's lawyer . . . is also egoistic.

Ain't they all, Rahul. Ain't they all.

There are a few lessons that I have learnt already which I'll keep in mind for my next deals.

If I've said this once, I've said it a hundred times: there is no education like experience. It only gets easier. I assure you that when a similar deal comes your way again next time, yuo'll breeze through it like an old pro. Stay on top of things in the meantime. Your payday appears to be around the corner.

 

 

Finally !!! My payday !

I have in my hand a cheque for $7,210/-

Now , agreed that is in Canadian dollars, but before anyone cracks the currency difference joke, just know that

US $1 = CDN $1.07. (today, Source : Yahoo finance)

So there is not much difference these days, guys !

 

Anyways, the closing was getting delayed for one reason or other. We should have closed around 1st week of June.

 

I got a call from the seller's lawyer's office this morning saying that the closing was done and my cheque was ready. I just picked it up.

 

Let me take this opportunity to thank all of you whose posts here at NI have helped directly &/or indirectly in this deal. Special thanks to MC, Doug, Adam, Steve, Jason,(..uh..oh..the music is cuing me to stop..they r fading my speech out)

- Rahul

[MichaelC 160]

Let me be the first to say "Congratulations!" Oh, wait, your wife probably already said as much. You did tell your wife, right, Rahul??

Seriously, I'm pleased as could be. You worked hard, and your efforts paid off. Way to go, bro. Now, put it behind you and crank it up again.

Let me take this opportunity to thank all of you whose posts here at NI have helped directly &/or indirectly in this deal. Special thanks to MC, Doug, Adam, Steve, Jason,(..uh..oh..the music is cuing me to stop..they r fading my speech out)

[Doug Pretorius (ON) 9]

Why to go, Rahul! Got any more in the pipeline?

[happyardy 0]

Why to go, Rahul! Got any more in the pipeline?

 

MC, thanks a bunch.

Doug, I havent taken any more commitments here. My day job work contract here in ST. John's, NL ends on June 29,2007 and after that we(my wife & myself) are relocating to Toronto area. We have decided to make that our home base and do activities(job, RE etc) from there.

I'll keep you posted about my whereabouts once I settle down. We can meet up sometime when you are free.

thanks

- Rahul

[Doug Pretorius (ON) 9]

Sounds good