Sumday now requiring buyer to sign a POA for the closing company

[tschwa2]

I recently bought a clearance item through Sumday's website. This is probably the 7th or so from them and the 4th in the last 6 months. They are now requiring buyers to sign a limited POA for the transaction.

I asked if this is a Wyndham requirement because I have never had to do so with Sumday before.

Attached is a document called the “POA/Corrective Document.” Please print this off, have it Notarized and Signed then mail to the GreatWay Services office along with a copy of your Driver’s License with your Social Security Number written underneath each picture. If you do not feel comfortable supplying your Social Security number, please feel free to contact our office and we can tell you if it is specifically required for the transfer of your purchase. The POA/Corrective Document will insure that we are able to give you the quickest closing instead of mailing documents needed by the resort we will be able to complete these on behalf of your transfer. Your closing will not move into the deeding and recording stage until we receive valid copies of your driver’s license or passport.

As a buyer I have had had to provide a notarized consent once. In the few cases when additional info or documents were needed I have been able to email the info/documents.

If there is a mistake or corrective action needed I would like to be notified. Unlike others who do not like to give out SS# or copy of Licence (I certainly understand because of the risk of identity theft), I generally am ok with providing that. I don't like to give anyone POA when I am capable of signing my own documents.

I've always liked Sumday and like their quick closing and the use of electronic documents.

 

[dioxide45]

You will find that this exists in a lot of real-estate transactions when buying a home. If something simple is needed to fix an issue where the closing company can make the correction and initial on your behalf, it is a lot faster than going back to the seller or buyer to get the problem fixed. You probably signed something similar the last time you got or refinanced your mortgage.

 

[decadude]

yo

I have bought two timeshares from sumday and have spoken to the company they outsource their deeding to.

They are definitely on the up and up man and the guy handling your deeding really knows his stuff so you are in good hands.

I am actually doing the same thing and just sent the POA in today.

so this will be my third. I am a new hobbyist but you are up four more transaction than I am with them

its limited POA not flat out POA

Google legal zoom has a good article on this

 

[glmyers]

Not uncommon

The key word is Limited. Singing just any old POA in not a good idea, but a specific, well written limited power of attorney is a good idea. If the POA merely allows them to file documents specifically identified that Wyndham needs for the transfer on your behalf and correct minor errors in documents (such as spelling mistakes) it is likely you will benefit from providing it. Such a limited POA is very commonly used in real estate transactions where parties involved are in distant locations.

If you cannot easily understand what the POA allows to be done, or are not comfortable with what the POA allows to be done, then you are right not to sign it. Do keep in mind not signing could easily add several weeks to the time needed for the transaction to be completed.

 

[decadude]

You will find that this exists in a lot of real-estate transactions when buying a home. If something simple is needed to fix an issue where the closing company can make the correction and initial on your behalf, it is a lot faster than going back to the seller or buyer to get the problem fixed. You probably signed something similar the last time you got or refinanced your mortgage.

You are the king of forums I have never seen a post count that high

Glad to have knowledgeable people helping others here with that much experience

 

[JudyS]

Is this only for Wyndham purchases, or is Sumday requiring this for all timeshare purchases? If you refuse, will Sumday refuse to sell to you?

 

[decadude]

Is this only for Wyndham purchases, or is Sumday requiring this for all timeshare purchases? If you refuse, will Sumday refuse to sell to you?

It is for all sales and it is not sumday its the deeding company they outsource to so I guess it indirectly is sumday??

Greatway Services is the name of the company and Josh is the man with the plan handling the deeding in my experience it is an absolutely nothing to worry about scenario.

Just using my better judgement and I have had many conversations with Josh and the man is very intellectual.

 

[silentg]

It is for all sales and it is not sumday its the deeding company they outsource to so I guess it indirectly is sumday??

Greatway Services is the name of the company and Josh is the man with the plan handling the deeding in my experience it is an absolutely nothing to worry about scenario.

Just using my better judgement and I have had many conversations with Josh and the man is very intellectual.

We did this recently and all went smoothly!