Flexible closing options at South Oak
Jul 05, 2021 | Realtor Resources | Share:
There’s no such thing as a typical real estate closing.
Although every closing involves the transfer of ownership of a property from a seller to a purchaser, each closing is also unique.
Most closings happen in one of our offices, but occasionally, our clients need a more flexible closing option to meet their needs.
Read on to learn more about the flexible closing options we offer at South Oak.
A video closing is a closing that you can do from your home or office through the use of video conferencing software. These closings are conducted just like a traditional closing, except the seller and purchaser are in separate locations and the closing is conducted virtually.
In a video closing, we email the closing packages to both the seller and the purchaser. Both parties show identification and sign their paperwork as if they were in the office. The entire closing is videoed and is a part of the record.
We started doing video closings because of COVID-19, but we’re still able to offer this service to our clients as the pandemic fades. Video closings are available to any customer who is living or working in the state of Alabama. In order to close virtually, you must be in the state of Alabama at the time of closing. We will continue to offer virtual closings as long as a supplemental state of emergency proclamation is active and permitting these.
Video closings are perfect for those who would prefer not to come into the office due to COVID concerns, elderly clients who cannot come into the office, or those who are working remotely in another part of the state.
If you’d like to schedule a video closing, make sure to let our office know as soon as you have the contract and closing set. Our closing coordinators are experienced in preparing for these closings, but we cannot schedule a video closing at the last minute.
Mail-away closings are closings in which the closing package is mailed to a client. Instead of coming into the office, the client receives their closing package in the mail, signs their documents with a notary, and sends the package back that same day to one of our offices. Once the paperwork comes in, the purchaser will usually come into the office to close. We file our post-closing documents after both parties have signed their paperwork.
Mail-away closings are perfect for sellers who have already relocated to a new location, especially if that location is out of state. Out-of-town purchasers and investors can also utilize a mail-away closing, although this scenario is less common.
Mail-away options are available to anyone who cannot easily drive to a South Oak location to close, but you must request one as soon as you set the contract and closing in order to meet the closing deadline. Because all documents must be mailed three days prior to closing, all of your information needs to be accurate and on time.
At South Oak, we use travel closings to bring the closing to our clients. These travel closings are in-person closings that happen outside of one of our office locations. We can conduct travel closings at a central location such as an office, nursing home, or hospital.
Travel closings are useful for those who are local to a South Oak office but are unable to come into the office for their closing. Elderly individuals who live in a nursing home, clients who are in the hospital, or business executives with a tight meeting schedule are all candidates for travel closings.
Our attorneys have conducted travel closings at real estate offices, hospitals, restaurants, and nursing homes. While we’re happy to offer this service for clients who need it, we cannot schedule these for the last week of the month due to the high volume of closings. If you think your client will need a travel closing, please notify our office as soon as you have a contract so that we can set this up for you.
A drive-by closing is a closing that happens at a South Oak location, but instead of closing inside our office, you can close from your car. We began offering these closings during the COVID-19 pandemic, but we can offer these closing options to clients who would prefer not to come into the office.
A drive-by closing is conducted just like an in-office closing except that the seller and purchaser do not meet around the closing table. Either party can opt to close from their car, and anyone can choose to use this option at any time. Just let our office know if you’d prefer to close from your car.
Drive-by closings have been a safe and simple closing option for those who have been concerned about exposure to COVID-19. If you are immunocompromised or have other concerns about coming into the office for a closing, drive-by closings are available to all of our clients on request.
Flexible in-office closings
Even if you’re closing in one of our offices, we offer options to make your closing more convenient. We have multiple South Oak locations, so you can choose to close at the office that’s most convenient to where your clients live or work. Just make sure to request your preferred office at the time you schedule your closing.
In certain situations, like if someone is going out of town, we can schedule an early-morning closing. We can also close after-hours, especially if it’s at the end of the month. Sellers also have the option to come in prior to the closing date to sign their documents, which is perfect for sellers who might be relocating out of state.
At South Oak, we understand that every closing is different and every client has different needs. We can accommodate a range of closing needs with our flexible closing options, but communication is key to ensure that your clients get the closing option they need. Make sure to communicate any special closing requirements at the time you schedule your closing.