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Closing question

Posted by mooie (My Page) on
Tue, Oct 28, 08 at 13:36

I recently accepted an offer on my home from out of state buyers. They were wondering if it is possible to close on the property without being here. They live on the East Coast and I'm in the midwest. There is no real estate agent involved to advise me. Thanks for your help!

Teresa


Follow-Up Postings:

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RE: Closing question

Both of you need RE lawyers to do it properly. They're the ones who do the checks you need done to be sure everything's in order on both ends re money, possible liens on the propt'y, any possible conflicts re surveys of where propt'y begins and ends, etc. etc. It's really not like buying a book - you (and especially they) need professional help so there won't be any problems in future.


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RE: Closing question

Just want to say congrats! Hope this goes through.
How do you like the new house? I assume you're in it by now?


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RE: Closing question

We have purchased 3 properties in Arizona while living in Washington. There were no problems. The Title Co. took care of everything.


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RE: Closing question

Personally for me I would want the buyers to make at least one visit to the house. Lawyers yes! Get everything in writing. Financing? Good? Secure?? Their credit==excellent??
To me lots of questions and by not seeing the people it is hard to make decisions so I would not get "hurt" financially. What amount are you talking about and what kind of property?
I do wish you the best, but do protect yourself.


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RE: Closing question

We purchased our Arizona home while we were living in Michigan. Our Realtor ( in Az.) and the title co. took care of everything. It was a breeze. The closing papers came to us via Fed Ex. All the other correspondence was done by Fax & phone. We had no problems at all.


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RE: Closing questionupdate

Went back and read your other postings--is this the same lady from NY that has seen the place? That would make a difference, but you still need a lawyer and/or title co.


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RE: Closing question

How is closings normally done in your area?

Is it done using a title company or by using lawyers?

If a title company they can handle all that and if lawyers the same thing.

We've signed papers using Fedex a few days before closing and then the other party signed at the closing.


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RE: Closing question

mariend, the wife has been thru the house twice, both lengthy visits. No problem there. She says the house has good bones. And yes, this is the same lady from NY. She and her husband grew up here and have known this house since childhood. They wish to retire back home.

lyfia,
it can be handled either way, lawyer or trust co. Both of my dealings have been with the trust co. thru an agent. Since there is no agent involved here, I called the lawyer to have him do things for me. His charge isn't that high, but I doubt the trust co. does it much cheaper. They will take care of all the earnest money and downpayment for me til closing cuz I sure didn't know what to do with it! lol! Not that my kitchen cabinet isn't quite safe! : ) Thanks for all the conversation. Boy I just never quit learning!

teresa


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RE: Closing question

Our last 2 closings were a bit different. The title Co. in AZ hired a notary up here who came to our house and we signed all the documents electronically on-line. We also followed up with signed hard copies that were sent by Fed Ex. The money was wired through our bank to the title co.


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