What happens if I’m not available for my real estate closing?
Life happens. Buyers and sellers find themselves living out of state, out of town for work, or on previously planned vacations that keep them from physically attending their scheduled real estate closing. If this scenario pops up, there are several ways to close a real estate transaction when one or all parties cannot be present.
First, there is no requirement that closing documents be executed in the State, but the law does prohibit specific closing documents from being executed remotely or with an electronic signature. It is common to email or mail the closing documents to a party that lives out of state and have them execute these documents in front of a notary and two witnesses wherever they live. After execution, the documents are returned to us in time for closing, and the other parties can execute.
If someone is out of town for work, vacation, or is temporarily unavailable, the law permits that person to sign a power of attorney. A power of attorney specifically grants the authority to sign closing documents on your behalf with the same effect as if you had signed them yourself. Power of Attorneys must be notarized and signed by two witnesses and be specific in granting the authority to buy or sell. Additionally, the original (with limited exceptions) must be present at the real estate closing to be recorded with the closing documents. If you are planning on closing and know you will be unable to attend for whatever reason, be proactive and inform the title company in advance to make sure they have all of the information and documents needed to accommodate your absence. At State Title, we prepare POA’s for closings, free of charge, and ensure that they are properly executed for timely and complete closings for our clients. Contact us today to learn more.