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Power of Attorney to Control Property vs AFS

qdsouza

0
REIN Member
Joined
Mar 29, 2008
Messages
365
Hi All,



I wanted to find out if anyone had every used a Power of Attorney in order to secure a property when a seller has no equity in their property instead of using an AFS. I had heard about other investors that are using this method but wanted to learn more about it.



Has anyone used this method? Are there any advantages over the AFS?



Thanks,



Quentin
 
L

lanedry77

Guest
Guest
Hi Quentin,



I use both - and AFS plus a POA to take control of the property during the time of the AFS.



The risk of having *just* an POA is that you if you use it to transfer title (which is eventually required), your POA could be contested. Plus, there's no clarity about who is responsible for what.



My suggestion - get both.





Thanks,



David.
 
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