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Old 03-11-2014, 10:39 PM
 
216 posts, read 667,486 times
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I am in the attorney review stage. Sellers's attorney sent my attorney a letter requesting they (sellers and sellers' attorney) do the closing thru FedEx, ie. sellers will pre-sign all the closing documents in front of seller attorney, then sellers' attorney will FedEx all closing documents to my attorney during closing date. The reason is that they think my attorney's office is too far away. In fact, it is 35 miles, mainly on highway, so they can get there within 40 min if not in rush hour.

This is weird. So why do they want to do this?? Buyers, sellers and attorneys should all sit around one table to sign off at the same time. I am worried that if they make a mistake or something happens, the deal may not close on time. Have anyone finished closing like this before? Thanks.

Last edited by artking09; 03-11-2014 at 10:55 PM.. Reason: add one sentence.
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Old 03-11-2014, 10:58 PM
 
Location: northern va
1,721 posts, read 2,526,735 times
Reputation: 1656
Quote:
Originally Posted by artking09 View Post
I am in the attorney review stage. Sellers's attorney sent my attorney a letter requesting they (sellers and sellers' attorney) do the closing thru FedEx, ie. sellers will pre-sign all the closing documents in front of seller attorney, then sellers' attorney will FedEx all closing documents to my attorney during closing date. The reason is that they think my attorney's office is too far away. In fact, it is 35 miles, mainly on highway, so they can get there within 40 min if not in rush hour.

This is weird. So why do they want to do this?? Buyers, sellers and attorneys should all sit around one table to sign off at the same time. I am worried that if they make a mistake or something happens, the deal may not close on time. Have anyone finished closing like this before? Thanks.
Hardly does this happen. I would say once out of 50 transactions I've been privy to have had both buyer and seller at the same table to sign the final paperwork.

If the seller is willing to sign a day early, then there's no reason that the paperwork cannot be in your attorneys hands the following day for you to sign..
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Old 03-12-2014, 03:47 AM
 
Location: Bloomington IN
7,753 posts, read 9,893,158 times
Reputation: 20468
Nothing unusual about this. I attended many closing where only one party was there. Most often it is the seller that is missing, having signed documents earlier. I have attended closings where buyers were out of state. Depending upon the requirements of the mortgage company, they have either signed with a witness (a notary) or signed at a title company in their state.
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Old 03-12-2014, 03:58 AM
 
Location: Madison, AL
3,298 posts, read 5,631,697 times
Reputation: 2660
Quote:
Originally Posted by artking09 View Post
I am in the attorney review stage. Sellers's attorney sent my attorney a letter requesting they (sellers and sellers' attorney) do the closing thru FedEx, ie. sellers will pre-sign all the closing documents in front of seller attorney, then sellers' attorney will FedEx all closing documents to my attorney during closing date. The reason is that they think my attorney's office is too far away. In fact, it is 35 miles, mainly on highway, so they can get there within 40 min if not in rush hour.

This is weird. So why do they want to do this?? Buyers, sellers and attorneys should all sit around one table to sign off at the same time. I am worried that if they make a mistake or something happens, the deal may not close on time. Have anyone finished closing like this before? Thanks.
Sometimes they can't. We call these "mail aways". Do them all the time, although typically its because the seller is in another state and cannot feasibly travel back for closing. I've had several buyers do mail aways as well. I've also had clients that gave me or someone else they know local POA to sign. I've faxed a HUD from a closing, gotten approval from the client, then signed POA.
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Old 03-12-2014, 06:02 AM
 
Location: Pennsylvania
20,944 posts, read 12,703,410 times
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It's not mandatory for everyone to sit around a table. I had one closing where the only ones there were the buyers and their attorney.
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Old 03-12-2014, 06:20 AM
 
Location: The Triad (NC)
31,807 posts, read 72,822,096 times
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Quote:
Originally Posted by artking09 View Post
I am in the attorney review stage.
And what does YOUR attorney say about this?

Quote:
Have anyone finished closing like this before?
Of course.
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Old 03-12-2014, 08:44 AM
 
279 posts, read 482,015 times
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I sold property sort of like this. The buyer needed to move the closing up due to her income being reduced in the near future. I could not take off work so her realtor sent a notary to my house and I signed my side. She signed her copies later and everything was good.
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Old 03-12-2014, 08:56 AM
 
4,567 posts, read 9,591,767 times
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Quote:
Originally Posted by artking09 View Post
so they can get there within 40 min if not in rush hour.
Why drive 80 miles if its not needed? I've done this type of closing myself. Very smooth and my attorney worked with my schedule. No need to coordinate a date and time for both parties.
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Old 03-12-2014, 08:56 AM
 
Location: Austin
7,238 posts, read 19,846,226 times
Reputation: 9967
In my 14 years, only 2 transactions were done at one table, and it was the most uncomfortable closings I've ever had. Never again will buyers and sellers sit at the same table when I'm involved. It's not natural. There is already too much hostility of someone wanting top dollar and someone wanting rock-bottom price. It's never a win/win in their eyes. Sellers will still think they're selling too low and buyers will still think they're paying too much.

Horrible, horrible to have both parties in the same room. Mail-outs are done all the time when the sellers have already moved, or the buyers are relocating and can't get into town just to sign papers as they're coordinating their move from their current city.
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Old 03-12-2014, 09:02 AM
 
7,890 posts, read 10,176,279 times
Reputation: 14545
Quote:
Originally Posted by artking09 View Post
Buyers, sellers and attorneys should all sit around one table to sign off at the same time.
Why? What if they lived out of state? There's nothing unusual about their request.
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