Happy new year! As I write this, it is snowing outside. It brings to mind the topic of what happens when one party to a closing cannot make it to the scheduled closing date and/or time. The answer is a split settlement - when the parties meet separately and at different times (and perhaps a different location as well) and sign their portion of the closing documents separately. The only difference in these types of scenarios is that funds cannot be disbursed until both sides of the closing have fully signed their documents. There is also the possibility of arranging out-of-state sellers to pre-sign their portion of the closing documents - we do this as long as the documents are properly signed and notarized, and the originals are returned to us on or before the date of the closing. This in fact happens often, especially with new home builders who typically never attend closings.
It's not completely unusual to happen this way, but of course not the norm. If you have any questions about these types of scenarios, then please feel free to message me and I would be happy to answer any questions you might have.
Stay warm in the snow!
No comments:
Post a Comment