My clients can not be present at the scheduled closing date, what are the alternatives to postponement? Who should I contact?
There are several alternatives to postponing a closing, the alternatives are all generally better than canceling a scheduled settlement; after all it was hard enough to get everyone together in the first place. If you have a Seller who will not be available at settlement, contact the closing agent as soon as possible. The closing agent can prepare the necessary seller documents and/or a power of attorney for the individual who will not be available. Remember it will be necessary to have a representative at settlement. Also, the closing agent will need instructions as to where the proceed funds, if any, should be sent. If you have a buyer who will not be available for settlement the first call should be to the lender, if one is involved in the transaction. Some lenders will not allow the use of a buyer’s power of attorney. If the lender agrees to the use of a power of attorney, the closing agent will assist in the preparation of the document. If your client happens to be a trustee, pers
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