Real estate has been classified as an essential business in Massachusetts, so closings are continuing to take place,… with some necessary precautions. If you are looking to buy or sell a home, you can still do so! Here is how our team is handling real estate closings in MA amid Coronavirus concerns.
1 – Digital Signing Pre-Closing
Some lender documents must be signed before closing and can be done digitally. Buyers and sellers can either print, sign, and scan those documents using their at-home printers or use digital signing options provided by lenders. Fortunately, the digital signing was already in place prior to the Coronavirus pandemic.
2 – Signing Closing Documents
Unfortunately, many mortgage and closing documents still require physical signatures. Our team prepares the documentation ahead of time and handles all paperwork while wearing gloves. On the day of closing, we place the packet inside of our drop box. You can then drive by, retrieve those documents, and sign them in your car (with windows closed). Our team will walk you through the paperwork over the phone and answer any questions that you may have. Upon completion, you will simply place the paperwork back in dropbox.
3 – Transmission of Funds
Prior to the closing date and time, a closing statement will be sent to you. Our team will review these figures with you over the phone or via a Zoom video meeting. All funds will be transferred electronically. This will streamline the financial aspect of real estate closings in MA and eliminate the need for physical exchange of checks, etc.
4 – Recording Documents
Registry of Deeds offices are closed to the public, but they are still accepting electronic recordings of documents. Our team will diligently prepare and submit paperwork to the appropriate registry of deeds. With the transaction on record, your purchase or sale will be official.
Real Estate Closings in MA Amid Coronavirus
Using technology tools and added precautions, real estate closings in MA amid Coronavirus can take place efficiently and safely. We understand that these are uncertain times and that you may have specific concerns. Our team is available to answer your questions and address your concerns. We’re here to ensure that you have a successful and safe closing. Please feel free to contact us at any time.