Question: Who needs to sign REPC?
Answer: All parties that are listed as a Buyer or Seller on a Real Estate Purchase Contract will need to sign, and on any additional Addenda. Any parties listed as a Trustee must be able to prove they have the authority to sign and bind the Trust, and should sign their name and add, Trustee. If a Party is signing on behalf of a LLC, partnership, or Corporation, they must provide proof of their ability to bind said entity.
If an Agent is signing on behalf of a principal in a transaction the following applies:(19) in order to sign or initial a document on behalf of a principal in a sales transaction:
(a) obtain prior written authorization in the form of a power of attorney duly executed by the principal;
(b) retain in the file for the transaction a copy of said power of attorney;
(c) attach said power of attorney to any document signed or initialed by the individual on behalf of the principal;
(d) sign as follows: “(Principal’s Name) by (Licensee’s Name), Attorney-in-Fact;” and
(e) initial as follows: “(Principal’s Initials) by (Licensee’s Name), Attorney-in-Fact for (Principal’s Name);”