In southwest Ohio the home sale process is usually completed with what is called a closing. Makes sense right since we're closing a transaction?
For the most common type of closing, an attorney or title company will arrange a sit down between the sellers and the buyers. Typically the agents for both sides will attend and perhaps the buyer's loan officer. Much paperwork is signed and ownership of the home is transferred. And typically the keys are handed from the sellers to the buyers and last minute questions about the home and neighborhood are asked.
However, that's not always the case. If you're a buyer or seller who has a schedule conflict, there are other ways to take care of the responsibilities of the closing.
1. Closings can be performed remotely for out of town/state home buyers or sellers. The title company sends the clients the necessary paperwork and either a closer is contracted or a notary public witnesses the signatures. The documents are overnighted back to the title company and then the other party signs off to complete the sale.
2. Another option is to grant a power of attorney specific to the sale. As a real estate agent I've periodically served in this capacity. Or clients can designate a friend or family member to substitute.
Now there are some variations on the closing routine.
Absolutely can't stand the other side of the deal after contentious negotiations? Or it's just REALLY emotional to sell your home? Separate closings are set up for each side and no direct contact is made.
Splitting up with the spouse and just don't want to be in the same room? In that case 2 or even 3 meetings might be held to complete the sale.
New construction? Most likely the builder will have signed off long before the buyer meets with the title company.
As you can see, there are plenty of options to ensure the home sale is completed.
More questoins about Cincinnati home buying and selling? Just give Bill a call at 513-520-5305 or email Liz@LizSpear.com and we can discuss how we can help you.
Serving Cincinnati home buyers and sellers,
Liz and Bill aka BLiz