I need a Power of Attorney to close the transaction, what do I need to know?

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Before signing a POA or asking someone to act as your attorney, be sure that the other parties involved in your purchase of a condo allow for the use of a POA. If you will be arranging a mortgage to finance the purchase, check if the lender allows for a POA under the terms of the mortgage.

Your lawyer will also need to inform the title insurer that a POA is to be used in the transaction. Thus, you must let the lawyer know well in advance so as to avoid any delays on closing.

This question was answered by Shaffiq Dar (Real Estate Lawyer)

Roy Bhandari