Real Estate Tips

What to Expect With a Remote Closing

What to Expect With a Remote Closing

What to Expect With a Remote Closing

When choosing to purchase residential real estate remotely there are a variety of things you have to consider before goingRemote Closing through a remote closing. Making sure you are getting exactly what you think is hard without physically being there. There are many other people that will be acting on your behalf to ensure the entire remote closing process goes smoothly. 

 

Choosing your real estate agent

Choosing an agent that is trustworthy and will be the best fit for your situation is very important. Interviewing multiple agents or seeking out referrals is a great way to find the right person for the job. Your real estate agent will be the person walking you through the home. You can ask for a private virtual tour with your agent rather than relying on the listing photos and they will walk you through the home much like they would if you were physically present. During this you will be able to ask any questions you have in real time. Make sure you have someone that will show you the entire house and all of its flaws, not just the selling points. Lastly, you will have to trust your agent to do the final walk through to ensure that it is the same as it was during the inspection. 

 

Review and understand the paperwork

One benefit of a remote closing is that you will receive your paperwork in advance and have more time to look it over. With the extra time you can do your own research or ask about terms that you do not understand. Resolve any problems you find within the documents as soon as possible to keep your closing on schedule and sign any that don’t require notarization. Depending on where you live and who you are working with will determine how you are required to sign the documents, but many allow for a completely online notarization process. Make sure to be in touch with everyone involved in the closing to alleviate possible problems that might slow down the process. 

 

Closing costs

Paying the costs for your remote closing is typically done through bank transfer. Make sure to check with your bank ahead of time to make sure the process can be done smoothly when it comes time to pay. You will receive instructions on how to complete the payment and it is important to make sure that you know exactly who to send the money to because wire fraud is a real threat during these transactions. If you receive instructions via email about who to transfer the money to, it is wise to call your agent directly to confirm. Also, be mindful of the timeline and any holidays or weekends that may delay the transfer of the funds. 

 

Get your new keys

How you receive the keys to your new purchase with a remote closing will be different depending on each situation. The keys may be sent through the mail, or you may pick them up in person when you arrive. 

 

Buying and selling properties is stressful enough and going through the process remotely can add more uncertainty. The Landmark Title team is here to answer any questions you may have about buying and selling commercial or residential properties. Contact us today

 

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