Resources and tools to keep you and your clients safe
Realtors and their clients are asking how they can safely conduct business while adhering to both shelter in place orders and social distancing best practices.
Consumer behavior in the past several years has changed and savvy Realtors have evolved meeting customers where they are- online. Leveraging virtual tours, top end photography many consumers both initiate the relationship and communicate with their agent online.
With the realities of the COVID-19 pandemic, CLOSED is here to provide resources to Realtors and their clients regarding how to work with us to safely close your transaction, end to end, 100% online.
If you are already working with us an want to prepare your client for an online closing, please check out our blog post Online Closing Instructions
CLOSED provides the ability to both quote and order title 100% online.
QUOTE TITLE
Our title quoting tool is available here: bit.ly/quotetitle.
This powerful tool allows property specific title quotes including government recording fees. Quotes are easily savable and shareable with your clients.
ORDER TITLE
We also provide the ability to order title online: https://www.closedtitle.com/ordertitle
ONLINE CLOSING CREDENTIALING
CLOSED was founded to lead the industry by offering home closings online, if anyone can get your transaction CLOSED safely and securely, it's us.
If you want to ensure your transaction can be closed online, the best way to do so is to follow up after your title order indicating whether your buyer or seller intends to close online. Our team will review the details of the closing and can confirm if a fully digital closing is possible. This would include details such as browser and webcam capability, etc.
With that said, generally the eligibility for an online closing is as follows:
SELLERS
As long as the county where the property is located accepts e-recording, or electronic recording of documents, the seller will be able to close online. The vast majority of counties in the 3 states where CLOSED operates, Florida, Tennessee and Kentucky allow e-recording.
CASH BUYERS
If your buyer has the ability to fund the transaction via wire and access to email we are able to close 100% of these transactions digitally.
BUYERS WITH LOANS
Unfortunately the mortgage industry has lagged with their adoption of digital mortgages. If your buyer has not yet selected a lender to work with, we can suggest one of the following lenders allow their documents to be executed by CLOSED leveraging our online platform:
United Wholesale Mortgage https://www.uwm.com/
Thrive Mortgage https://www.thrivemortgage.com/
Guaranteed Rate https://www.rate.com/
Redfin Mortgage https://www.redfinmortgage.com/
Wyndham Capital https://www.wyndhamcapital.com/
Even if your client is already working with another lender that will not allow a fully online closing, by working with CLOSED they are able to start and follow the transaction fully online. In addition the seller may choose to close online which may save the transaction from being delayed or even cancelled.
If your lender does require the borrower to physically meet with a notary, CLOSED can offer an in-person closing at one of our offices, or we will leverage our network of mobile notaries to meet with the borrower to execute the documents.
Please note that given the extraordinary times availability of mobile notaries is impacted due to government travel restrictions and overwhelming demand for non-traditional closing options.
ONLINE UPDATES
Most title companies provide title updates two ways- via phone and email. CLOSED also provides these traditional updates, in fact we answer our phones until midnight on weekdays and 9 am to 9 pm on weekends.
However CLOSED also provides real-time title updates 24/7 online. This allows you and your clients to stay informed without having to call or email us.
FUNDING/COMMISSIONS
CLOSED will fund your fund your transaction 100% online two ways- via e-check or wire. CLOSED does not charge wire fees or e-check fees.
E-checks work exactly like a regular check, simply print, mobile deposit from your phone and you are done.
* At the moment, we require you to enter the last four digits of a U.S. Social Security number to use in assembling the security questions to verify your identity. We are actively working to build a solution to support foreign citizens who need to Notarize their signatures on documents relating to court proceedings, property or transactions which are either in the U.S. or substantially connected to the U.S.(U.S.-based notaries cannot notarize signatures on documents which have no substantial connection or relationship to U.S. property, court proceedings or transactions). **If you are currently traveling or residing outside of the United States, please enter your current U.S. address or most recent address at which you resided for an extended period of time.