COFFEE AND CLOSINGS
Mar 27, 2020
With so many people working from home, you have to stop and marvel at technology. Some are still working in the office, myself included, but when you drive up the levels of the parking garage to your spot, passing empty space after empty space, you have to be a little in awe that commercial real estate continues to move forward, even without a warm body in the office. Closings are quickly becoming something you can do in your pj’s, with a cup of coffee in your kitchen, if you so choose. So set up your computer, fill up your coffee cup and get ready. Truly, one cup of coffee will take you through the process. You may not even have time to finish it!
Your closing agent will handle the title work and obtaining all the paperwork from your lender. Documents can then be loaded into an electronic platform that will allow you to review documents from the comfort of your home. Once a closing date and time are set, all appropriate parties will log into a secure virtual meeting room, including an e-notary. The security ensures that only approved parties have access to the closing and private documents. The notary will verify your identity through a process that is much like logging into your bank account with secure pins and personal security questions. You establish an e-signature and initials and then can simply click through documents to sign and initial. The notary does the same…click, click, done. If you have any questions that have yet to be answered, virtual attendees are still available to help during the process. Did you get to finish your coffee?
From there the closing agent will handle recording the necessary documents, such as the deed of bargain and sale and deed of trust. This can again, in most cases, be done electronically. While not all Virginia counties and cities accept e-recordings, many do, with the rest are sure to follow soon.
You now own the property you purchased without ever leaving your kitchen. Quick and easy. Have another cup?
NexGen Title employs the latest technology so that your commercial title and settlement solutions are presented in an efficient and understandable format, allowing you to spend more time with your family and growing your business.