Seller meets with buyer to deliver the deed with an attorney present.
Buyer and seller meet at the real estate office to deliver the deed and keys.
Buyer and seller meet at an attorney’s office to deliver the deed and keys.
Buyer and seller meet at the title insurance company office to deliver the deed that the title insurance company will record.
If the buyer gets a new loan, the buyer and seller may meet at the offices of the new lender.
No meeting. The seller executes a notarized deed well in advance of the actual closing and delivers it to escrow; escrow gives all deeds (grant deed, trust deed, reconveyance) to the title company who records the deed at the county recorder’s office.
Must be notarized.The party signing is called the attorney in fact .
If the power of attorney is executed outside the United States: The American Consulate in that county must notarize the document. .
The form allowed in California must contain the words: “to mortgage, transfer in trust, or to otherwise encumber or hypothecate” to be valid.
The individual using the power of attorney to sign for another must execute all documents in their own personal handwriting.
The individual must have prior approval by the lender and must sign the document with an exact order: writing the name of the person they are signing for, followed by a comma, then writing their own name, followed by a comma, then include the following words for each signing: “His or her attorney in fact.”
STATE OF CALIFORNIACOUNTY OF___________________________ COUNTY OF _____________________
______________________ being first duly sworn, deposes and says: That ________________________is the Claimant named in the forgoing
claim of lien, that____has read the same and knows the contents thereof, and that the statements therein contain are true and that it contains, among other things, a correct statement of _____ demand, knows the contents thereof, and that the statements therein after credits and offsets. Dated: this ____day of ______,20___at_________________________ (City& State) _______ ______________________________________
(Signature of Affiant)
Subscribed and sworn to before me __________________________________________ ______________________________________
As a licensed real estate agent in California you like the sales part of each transaction but are not particularly fond of the math. To help build your confidence and reduce office liability, your office manager required you to print a copy of your buyer’s cost sheet and have the a copy signed by the buyer placed into the file. You used the MLS form at first, but later used real estate specific Top Producer software program. The buyer signed each and you reviewed the numbers carefully against the lender’s estimated closing costs form mailed directly to your buyer.
At the close of escrow you review the HUD-1 RESPA form that shows the exact figures used at the closing. In reviewing the figures you find a mistake that would result in a $50 credit to the buyer. What would you do?
Answer: You would first go to your office manager or broker to determine if your $50 credit is correct, as a double check on your math computation. Then you would contact the escrow holder to correct the mistake for your buyer. The mistake may have come from the title company calculations or the new lender may have miscalculated a charge or fee. You would also go over the figures with your buyer and explain the steps you are taking to correct the situation.