Preparatory power of attorney of the buyer

Construction preparation power of attorney – The construction preparation power of attorney is the authorization that the seller transfers to the buyer to be able to start with preparatory work. The scope of the power of attorney should be described exactly and the risks for the buyer should be clearly delimited. As a rule, the seller does not assume any liability or costs. A building preparation power of attorney makes sense if the purchaser wants to use the acquired property immediately and implement his building project.

Pre-construction power of attorney at a glance: Power of attorney to start construction work early

• Authorizes the buyer to start preparatory work
• Authorisation is granted to the buyer by the seller
• The scope of the power of attorney and the risks must be precisely described and identifiable
• Useful when the buyer wants to start with immediate work
• Seller usually assumes no liability and costs

Back to the wiki: Real Estate