COVID-19 and Closing the Loan
The signing experience is taking on a new light in COVID-19 as safety and health become the primary focus of all transactions. Business are having to change the way they do things in order to protect their customers and clients.
Other Real Estate Transactions Are Now Digital
Over the past few years, lenders, real estate agents, and title & escrow businesses have been integrating technology to appeal to client need for instant information access and communication. Today, nearly every stakeholder in the real estate transaction already uses digital touch points to streamline their life, businesses and other transactions, so the trend is quite familiar.
In the current environment, digital tools are especially necessary. COVID-19 has required reduced in-person contact. Rapid adoption of digital tools such as virtual home tours, digital loan origination, secure communication portals, e-signing tools, and remote online notarization (RON) where possible, are being used by real estate agents to manage this new way of life. Even after social distancing ends, these digital changes will have made an impact on the industry.
The Closing Table Experience in COVID-19
The growing use of digital tools in real estate transactions magnify the importance of a positive closing experience which could be the only (and is certainly the final) face-to-face interaction a homebuyer will have.
When considering the significance of the closing experience, the value of a knowledgeable closing attorney cannot be understated. If you are in Atlanta or the surrounding area, check in with the Troy King Law Firm, as we ensure an efficient digital closing that will allow for collection of documents, pre-signing of forms, and quick and secure communications.
