So, I submitted an offer that was accepted by the owner/relative (via power of atty) on Friday of last week. We received the paperwork (signed) yesterday (sunday) and a note that stated that the owner died Saturday. I assume that the estate will need to honor the contract. What steps do I need to look ahead to, what will need to happen on their side before I can close on the home?

The estate will have to go through probate. An executor will have to be appointed. Once an executor is appointed then your sale can proceed. This shouldn't be a long process and shouldn't hold up the closing for any significant amount of time, especially if the heirs are motivated to sell.

Actually no, the contract has no value at all if I understand what you asked.
If the person died on Saturday, and someone signed it on Sunday, the contract has no value what so ever and is close to fraud. POA ends at the death of the person, so the minute the person died, the other person no longer has POA,

So if it was signed by someone claiming POA, it had to be signed when the person was alive, to be valid.

So if the person died Sat and it was signed Sunday, you need to demand all of your money back at once.

You can make an offer to the estate, and who ever is appointed by will or by probate can then accept the offer.

It's my understanding that the contract was signed on Friday and received by the buyer on Sunday.

To the OP: Please clarify?

Perhaps I read it wrong,

I will agree if it was signed Friday and he died Saturday, it is binding and has to be accepted.

** image a cute heart, I can't do those sweat little symbols*** Love you Lisa, I have been waiting for years to try and find one that I could beat you on, thought I had found it, oh well, back to the minor leagues

Quote:

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Originally Posted by fr_chuck

perhaps i read it wrong,

i will agree if it was signed friday and he died saturday, it is binding and has to be accepted.

** image a cute heart, i can't do those sweat little symbols*** love you lisa, i have been waiting for years to try and find one that i could beat you on, thought i had found it, oh well, back to the minor leagues

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Lol!! ♥

As a practical matter, especially if the POA and the PR turn out to be the same person, the estate may want to ratify the acceptance, and you will end up with the same agreement.