If you’re thinking of buying or selling a home this summer don’t change your business trip or cancel your vacation plans. Nearly the entire transaction can be completed electronically. Today more than ever people are making offers on homes or completing home sales while out of town.
I’m currently helping a buyer purchase a home she’s never seen in person. Sure it’s a little uncommon but it works for her and it can work for you too.
Work commitments require my client to be outside the U.S. for long periods of time. She wanted to take advantage of today’s low interest rates and the strong Washington DC real estate market. It makes sense for her to buy a home now and not wait a couple years. My client knew the type of home she wanted, its features and how much she wanted to spend. It was just a matter of finding the right neighborhood. With some suggestions from her friends and listings from me, my client narrowed down the possibilities. From there, I visited potential properties, took photos, and gave her my feedback. Within 24 hours of me emailing photos and giving my assessment, she was under contract for a beautiful home!
After wiring her earnest money deposit to the settlement company we scheduled the home inspection. Following a thorough inspection, the inspector emailed her his findings in a detailed report, including photos. All the while she was gathering her financial information to email her lender. The entire transaction is proceeding smoothly, and all electronically. There’s no need for my client to fly back to the U.S. for any part of the home buying process.
The one piece of a transaction that cannot be done electronically … yet … is the signing of all the loan and settlement documents at closing. No worries, though. Buyers and sellers can give a friend or family member a Power of Attorney to sign on their behalf. Alternatively, a home buyer or seller can sign documents remotely in front of a notary and overnight them to the settlement office.
Companies like Authentisign can help home owners sell a home easily too. Last month I listed and sold a clients’ home while they were on their honeymoon in India. The entire contract negotiation was done via email and finalized with electronic signatures using Authentisign. When my clients returned from their trip all they had to do was start packing moving boxes.
If you’re a home buyer or seller looking for added convenience make sure your real estate agent is using the latest technology. Often times I still hear agents say “fax” me this or that. Ack! Fax? Really?
Constantly changing technology is giving people that flexibility to meet their home ownership goals from distant locations, whether across town or across the world. So keep your vacation plans or go on that business meetings. When you get back in town your new home will be waiting. Give me a call. I can help. 703-963-0142