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When it comes to closing on a sale do I have to be there is person to close ? Probably a self-answering question but I don't want to ask anyone else than you all. It is an 18 hour drive to my new property and so far we have done everything by email. Call me stupid but I have to ask so I can arrange things so I can be there if I have to. Thanks
Ask your re agent, bank, and title company or anyone else involved in the transaction and see what they say. And if they say no, ask why and get it in writing.
Get in contact with the title company or attorney who is handling the closing; they'll give you specific instructions on what you or cannot do to settle on your home without being present. A power of attorney or "mail away" closing are options that might be available to you.
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I've done both. The worst is everyone at one table, omg! I've done it all electronically too, though those were foreclosures, but it went fine. Electronic is fastest and easiest. The big deal there is making sure the correct amount is wired to their account, correctly. We had to make sure it all happened by 1 or 2 pm.
I've done deals in Maryland where the seller lived in Indiana. The title company simply mailed the package to him for signing and he had it notarized on his end. He mailed it back and we went to the settlement table.
I have remote closings all the time. The escrow company hires a mobile notary, sends the notary all the documents. Seller signs, notary sends it all back. Same with buyers.
I have remote closings all the time. The escrow company hires a mobile notary, sends the notary all the documents. Seller signs, notary sends it all back. Same with buyers.
Then the realtor sends the long-distance buyer the keys to the house in the mail?
As a long time investment property broker, I have done many transactions where the buyer or seller and sometimes both were nowhere near where the property closed was located. Simple to do. Any good title company who is guaranteeing the title can arrange it. You know it is being done right, as they are guaranteeing it was done right at closing putting up their money to guarantee it.
I once as an example had to drive 35 miles in a snow storm to deliver closing papers to a clients daughter. She then drove them to an airport 50 miles away to meet her sister to give her the papers to take to her parents. They were working in Iran when the Shaw was in power (American engineer). They met in Turkey (country) for Thanksgiving together. They were witnessed by the American Ambassador which the title company actually preferred over any Notary. They were returned under the same process a week later. The sale involved several properties, and my client exchanged 5 nice rental homes for a medical office building that had just been built. To work out the details of the transaction as the client could not even discuss business like this over the phone, his daughter would tell him on their weekly family phone call to call me. He then would fly on the company shuttle to London and we would work it out on the phone, then we would do something like this to close the sale. Sometimes he would have them mailed to the company U.S. office, where they would go to London on their mail shuttle, and would be hand delivered to him in Iran, where an American ambassador would witness the signatures. Go back out the same way and be mailed to me from the corporate headquarters in the U.S.
Just examples that you do not have to be there for the closing.
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