Peculiarities and main types of Powers of Attorney for an apartment

Most people are now real estate owners, or at least want to become one. Frequently, someone needs to sell an apartment, and someone wants to buy it. The modern rhythm of life is so dynamic that often you have no time to buy or sell real estate, so citizens turn to real estate agencies, realtors, lawyers, relatives and other representatives who help them to sell, rent or buy real estate.

A Power of Attorney for an apartment is such a document, thanks to which the agent is empowered to represent the interests of the grantor on the acquisition of property, and so on.

One of the things to understand is that there are several types of the above-mentioned documents. Therefore, before drawing up the paper, you have to understand what powers you plan to empower another party. For example, a simple Power of Attorney is required to perform certain actions just for the preparation of documents required for the sale of an apartment. Special paper allows you to perform a number of actions (to form a package of documents and register transactions), and with the help of the general Power of Attorney, the grantor can perform almost any actions related to the sale of an apartment.

Features of competent and correct execution of a Power of Attorney for an apartment

To obtain a Power of Attorney for an apartment, you will naturally need to provide a number of documents. However, it is worth knowing some rules that mitigate the risks and protect you. One of them is that, for example, the document can indicate the following: according to the sale and purchase agreement, the funds will be transferred to the current account of the owner of the real estate (the grantor), instead of to the agent. Moreover, the decision regarding the right to sell is recommended to be made directly on behalf of the company, rather than on behalf of an individual (when it comes to working with a real estate agency).

What is more, it is recommended to be as responsible as possible when choosing a realtor. It is worth making inquiries about their reputation, the period of the company's work in the real estate market, studying the feedback of people who cooperated with it, coming to the company in person and asking all your questions. By the way, when a notary draws up a Power of Attorney for you, do not hesitate to ask his/her employees for advice. After all, your wrong decision can cause a lot of problems. At the end, it is also necessary to double-check the terms, the cost of an apartment and some other essential information.

In the process of drawing up the above document, both parties should indicate their personal details (residence registration, full name, title to real estate, location of an apartment, place where the transaction is concluded, and so on). You should certainly indicate the contract duration, as well as some recommendations related to of disposal of funds by the agent and the scope of his/her rights. The main thing is to deal only with a bona fide notary office, in which you will be one hundred percent sure. Thanks to the valuable advice of specialists, it will be possible to narrow down scope of rights to the safest and mitigate all the risks.