Closing Tables Have Changed: Remote Closing Options

Closing Tables Have Changed: Remote Closing Options

Direct answer: For Grand Rapids and West Michigan buyers and sellers who cannot make it to a title company, you do not have to be at the closing table in person — remote closing options, including RON online signing, let you sign from where you are.

The traditional table is still common

Closing tables have changed. There is still the traditional closing table at a title company, and Steve would say about half to around seven in ten transactions still happen there.

But people travel a lot, and they are not always present or available to come to an office. Some people are injured, or they just cannot make it to a title company, or they are very busy and do not want to. And that is perfectly fine.

Signing online with RON

Many clients now close using the RON system — Remote Online Notarization — which is basically an online signature for the purchase or the sale.

A lot of sellers are choosing this. They ask, why do we need to drive down to the title company if we can just do it all online and sign it from our desk? And so a lot of sellers are starting to choose an online way of signing.

You are using DocuSign, but basically you have a computer, you are on screen, and someone is going through the documents with you. You are just not having to come into an office physically at a closing table to do so.

The documents are the same

Funds are being wired quite a bit these days, and with technology at a place where lenders are okay with it and title companies have that ability, a lot more clients are not actually at the closing table.

That does not mean it is not closing. The documents are the same documents you are signing in person or at your computer — the same documents either way.

Signing from where you are

So just ask, if that is what you need. If you do not live in this area — if you are relocating to West Michigan and you live in Detroit or Chicago or another city or state — Steve sees that all the time. People will sign where they are at, and then just overnight the package to the title company.

Key takeaways

- The traditional closing table at a title company is still common — Steve would say about half to around seven in ten transactions still happen there.

- Remote closing is a real option when you travel, are injured, cannot make it to a title company, or are simply too busy.

- RON (Remote Online Notarization) is an online signature for the purchase or sale, and many sellers are choosing it.

- With DocuSign-style signing, you are on screen with someone going through the documents with you — just not physically at a closing table.

- Remote or in person, the documents are the same documents.

- Relocating buyers and sellers can sign where they are and overnight the package to the title company.

FAQ

Do I have to be at the closing table in person?

No. If you travel, are injured, cannot make it to a title company, or are too busy, remote closing options let you sign without coming into an office physically.

What is RON?

RON is Remote Online Notarization — basically an online signature for the purchase or the sale, done on screen with someone going through the documents with you.

Are remote closing documents different from in-person ones?

No. The documents are the same documents whether you sign them in person at a title company or at your computer.

The Closing Series

1. Closing Table Intro

2. Show Me The Money

3. Buyer Side & Seller Side

4. Cash Is King

5. Closing Documents

6. Remote Closing Options — you are here

Watch me explain it

Here is an older video of me explaining the process. It might be older, but the info still rings true.

Watch on YouTube: https://www.youtube.com/watch?v=MV7QCfAAlpk

Author: Steve Volkers, Associate Broker, Steve Volkers Group at Five Star Real Estate, Grand Rapids, MI — phone 616-717-2179, stevevolkersgroup.com