SIMPLIFIED CLOSING SOLUTIONS
Remote closings now available
Remote Online Notarization (RON) was introduced to Florida in January of this year, as if someone knew there was a pandemic coming. Florida is one of eleven states that allow RON for real estate closings. The way RON works is all the documents are provided online to the parties involved. The parties then connect over the video conferencing with the notary, who must be authorized to do digital notarizations, then the closings proceed as any other closings.
COVID-19 has made the need for RON a necessity to protect individuals from the COVID19 virus. The real estate market took a downturn at the beginning of the pandemic but is making a strong comeback. When you combine the fact that people are spending all their time in their homes and the interest rates are at historical lows, it is inevitable that sales and refinancing is up. The corona virus is going to be with us for some time, RON makes perfect sense to use this technology to conduct remote digital closings.
Setting aside the pandemic, RON is the future of real estate closings, specifically here in Florida. Many individuals purchase second homes in our state. The money and time saved from having to travel from another state or within Florida to close on a property is significant. Imagine you are living in New York City, while on your vacation you fall in love with a property in Florida that you would like to have as a second home. Everything is right, the city, neighborhood, the house, and the price. You are ready to close on the deal, but you are in New York. Now you have to take time off from work, purchase an airline ticket, reserve a hotel just for the closing! For most people, the convenience of being able to close from your own office or home, makes buying a second home a whole lot easier. With this technology at our firm, you can be anywhere in the world to buy that second home or investment property without the need to be present. For international buyers, the process is a little bit more involved but still possible.
However, there are some people who don’t like doing real estate transactions digitally. They want be at a closing table, taking pen to paper on a large conference table and taking pictures to capture the moment. This is usually the case for first time buyers. First time buyers go through a lot to be able to purchase that first home, saving money for the down payment as well as dreaming about it for sometimes, years. It is a huge milestone in their lives.
We at GTG give you the option of remote online or in person closings by using the latest technology to suit the needs of our clients.
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