Real Estate Closings In The Time of COVID19


Real Estate Closings In The Time of COVID19
By Scott Rogers • April 20, 2020
Prior to a month ago, lots of people would attend each real estate closing, such as: the seller the buyer the Realtor representing the seller the Realtor representing the buyer the title agent or closing attorney sometimes, the buyer's lender sometimes, the kids of the seller or buyer But these days, it doesn't work so well to have a closing with 5 to 10 people present -- especially when a title company might have 8 to 12 closings per day. That title company would then potentially have 75+ people walking in and out of their office each day, in addition to the 10-ish people working in the office. So, things happen a little differently now... Basically, each party (buyer and seller) drives to the title company, picks up the closing documents from a box outside the front door of the title company, calls the closing attorney to review the documents by phone, and then signs the documents in their vehicle. Once the documents are signed, they are put back in the box and the closing attorney takes the documents into the office to review them and then let's the buyer or seller know that they can leave. This new process (utilized by multiple local title agencies) is still allowing real estate closings to happen, but it certainly is a tad bit less exciting than it used to be. There is (necessarily) quite a bit less personal interaction with this new process and some of the joy of a home purchase (or sale) isn't quite the same at that particular moment of the transaction. So, if you're buying or selling a home these days, prepare for that final act of "the closing" to feel a bit different than you might have expected, but you'll certainly have a fun story to tell for years to come -- "when we bought this house, you wouldn't believe how we had to do the closing..." Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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