COVID-19 Closing Continuity
Real estate people are patient and kind. We do not envy, we do not boast, we are not proud. Real estate people are not rude, self-seeking or easily angered. We keep no record of wrongs. Real estate people do not delight in evil but rejoice with the truth. We always protect, we always trust, we always hope, we always persevere. Real estate people never fail.
Safe Harbor Title is working diligently to keep our client’s and customer’s closings on schedule while ensuring the security and compliance of each transaction is in tact. Recently, we completed our first e-notarization in order to help a quarantined health care worker keep her families’ new home purchase on schedule! While we certainly do not wish these circumstances on anyone, we intend to continue to rise to any challenge that presents itself with integrity and common-sense solutions.
For all in-process, residential transactions in localities with online update and e-recording capabilities, we expect little to no delays in recordation and disbursement.
For in-process, residential transactions in localities where online services are not available, or if an “online” locality terminates online services, we have received authorization from our Underwriters to close and disburse without recording, provided all parties to the transaction, including the Lender, agree in writing. In both instances, there are minimal additional requirements, none of which should cause any delays.
Regarding the signing of the closing package, in an effort to mitigate the spread of COVID-19, we will be scheduling Mobile Notaries to conduct closings at the Borrower’s and/or Purchaser’s home or office. There will be no charge for this service. For our Mobile Notary’s benefit and protection, we encourage only the Borrower(s) and/or Purchaser(s) to be present at closing.Once Safe Harbor Title has determined the transaction to be “closed,” we will disburse promptly. Real estate commissions will be couriered to the Broker at no charge. Proceeds paid directly to the Seller must still be picked up in person with proper identification.
On to new transactions! We are still receiving new contracts and refinance orders every day and welcome many more! Title searches are being conducted with every resource available, and while we may experience some delays due to capacity restrictions, etc., we are confident that we will be able to guide our clients and customers through the process with the same friendly expertise and knowledge for which Safe Harbor Title is known. Please do note that again, in doing our part to prevent the spread of COVID-19, we ask that all EMD checks be mailed to us or deposited into our secure drop box, located on the side our building. Please either attach the first page of the contract or include the subject property address and the name of the Realtor on the check.
Most importantly, please keep in mind that we are all attempting to navigate un-chartered waters the very best we can. I suspect that, on the other side of these turbulent times, we will all have learned just how strong and voracious our industry, and the professionals in it, are!