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Four Closing Options During the COVID-19 Crisis
Option 1 Power of Attorney (POA):
The borrower can appoint the closing attorney or other interested party (as allowed by the loan program) to act on their behalf on Limited cash-out refinances and purchase transactions. The borrower will need to meet in person with the notary to sign the POA. All borrowers on the loan may now sign via POA provided they appoint the closing attorney or other interested party as well.
Please note, the attorney-in-fact may not be the property seller, any relative of the property seller, or any direct or indirect employee or agent of the property seller, unless they are also a relative of the borrower.**
**Not eligible on cash-out refinance loans.
Option 2: Standard Mail-Away:
The closing package will be mailed to the borrower for signature. Borrower must still meet with a notary in person to execute the documents. Borrower will mail signed documents back to the attorney.
Option 3: Video Closing:
Attorneys to be on video while the borrower meets in person with the notary to wet sign all closing documents. These closings will be treated like mail-away closings where the client still meets in person with a notary.
Option 4: Traditional Closing:
Traditional closings are still an option. Many law firms are still open with additional sanitizing & social distancing procedures in place.
Premier Homes By Angela awaits your call to assist you with buying or selling your home, (844) 385-SOLD. Our goal is to be your For Life REALTOR® as we assist in building the communities of Atlanta up through homeownership. We provide you with educated, knowledgeable guidance that can only be made with accurate, reliable, and projected market information. We use proven repeatable systems for client successful results. We are happy to be a trusted professional resource for you and your family. Thank you for the opportunity to provide you with this blog, we look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future. Your Dream Our Mission, we are the KEY to your real estate experience!
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