Something to watch out for is that some of the details may vary with your state law so even well intended suggestions here may not correct for your situation.
An additional consideration is that home title fraud is a real thing and people have been known to sell property which does not belong to them and abscond with the money. Just because your friend shows up with a power of attorney does not mean that everyone involved and especially the title insurance company will accept it.
I would suggest that you meet with a real estate attorney in your state before you leave the country to get everything set up. I would suspect that the lawyer could handle this and not have your friend involved.
When selling a house there are also lots of details that need to be figured out throughout the process and even last minute things that come up on the closing day. If there is a problem at the last minute where the buyer finds a problem in the final walkthrough your friend might need to approve some $10K credit or be willing to let the sale fail and either way that could endanger your friendship.
I would really suggest just selling the house now and then finding some temporary place to live until you are ready to leave for your trip.
An additional consideration is that home title fraud is a real thing and people have been known to sell property which does not belong to them and abscond with the money. Just because your friend shows up with a power of attorney does not mean that everyone involved and especially the title insurance company will accept it.
I would suggest that you meet with a real estate attorney in your state before you leave the country to get everything set up. I would suspect that the lawyer could handle this and not have your friend involved.
When selling a house there are also lots of details that need to be figured out throughout the process and even last minute things that come up on the closing day. If there is a problem at the last minute where the buyer finds a problem in the final walkthrough your friend might need to approve some $10K credit or be willing to let the sale fail and either way that could endanger your friendship.
I would really suggest just selling the house now and then finding some temporary place to live until you are ready to leave for your trip.
Statistics: Posted by Watty — Thu Aug 22, 2024 9:36 pm — Replies 8 — Views 539