Jun 16, 2014

Tip 12-2014: Who's Attending the Closing?

As the weather warms and schools prepare for the end of the academic year, the real estate world braces itself for the chaos that often comes with the summer months.

A number of people take the summer months as a time to go on a much-needed vacation.   Even if summer travel plans are scheduled around potential closing dates, closing dates can change, and buyers may find themselves unable to attend a closing. Or, sometimes a couple may decide that only one party will attend the closing.

As soon as an agent is made aware that a buyer will not be attending a closing, that agent needs to contact the buyer's attorney or settlement company. Many times the Buyer's lender will need to know ahead of time that the closing will be conducted by a power of attorney. The lender may also need to review the power of attorney. If it is known upfront that the closing will be a mail away or that a power of attorney will be used, that information needs to be shared as soon as it is available. No one wants to be left at the closing table wondering, "Who's attending the closing?"
Contact me at 434-951-0858 or Tucker@TGBLaw.com if you have questions.

William D. Tucker, III
Tucker Griffin Barnes P.C.
Charlottesville, VA

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