The closing process is complex, and difficult to understand. It takes a team of people, who, if all goes correctly, are working toward the same goal. And that goal is a successful closing. Somewhere in the process, it is inevitable that clients will ask … “Where’s the closing?”. Although a simple question, sometimes it is not easy to answer.
There is an old picture entitled “The Closing” which depicts lawyers, bankers, realtors, and buyers and sellers sitting around a table pointing fingers and apparently yelling at one another. In fact, thiis interpretation of a closing is the farthest thing from reality.
With the use of computers and the internet, many closings happen through cyberspace. Closing documents are delivered via email, the buyer or seller prints them out, has them signed and notarized and then forwards them to our office. This is very convenient when you have parties that are not going to be in town for a closing. Once all the original signed documents are gathered and verified, funds are delivered, and checks are printed, the closing is concluded. Once closed all parties are informed that the closing is complete.
Of course, we still love to have closings in our office where the buyers and seller show up in person. If they are present for the closing, no pointing or yelling is permitted. The closing process should be as stress free as possible, even if you don’t know when it actually takes place.