I messed up. Gave PoA to agent for closing

[Christopher Morin]

Rant/advice please. .. so I closed on the final sale of a flip on friday, and in my attempt to outsource and spend less time "in my business" and more time "on my buisness" I signed a specific PoA over to my listing agent... I allowed them to sign addendums to my contact during closing negotiations, and also conduct closing. Well, absent specific instructions, they moved up closing to as soon as possible (good) and signed without presenting me the settlement statement ( very bad).

Turns out they messed up an addendum's verbage, and increased my closing cost concessions by 3000 more, when it was supposed to decrease by 1500. It was a contract verbage issue that the title company simply executed. And then my agent signed the HUD on friday.. that's 4500 I shouldn't have paid.

My fault entirely for misplaced trust and unclear instructions, but this was a significant error by my realtor. Should I ask them to concede part of their commission? Or simply note lessons learned and fire them?

[Russell Brazil]

@Christopher Morin This seems to me then like a clear mistake by the agent....not so much in the signing using the POA process, but rather in the contract negotiation process. When I renegotiate things and put the final information on an addendum, I always put language to the effect that states the final sales price, the final and only credits and what they are for so there is no confusion. e.g. "The final sales price will be $405,400. An $1,800 seller subsidy will be provided for closing costs and this will be the only credit and/or subsidy provided."

In light of that I would discuss with the agent , and see if they would be willing to reimburse you some of the costs. I would also talk with the title company and see if they would as well.

@Richard Dunlop suggested the possibly of filing an e&o claim...however I think that would likely be a waste of time in this instance because you gave the agent POA.

As an agent, I have had out of state clients ask to give me POA and I have always said no. I have them designate a local friend or family member to have their POA. I think my liability runs too high signing for a principal where I am the agent in the transaction.