Digital Closing

A digital closing leverages electronic records, electronic signature, and often video conference technology to complete all or most of the real estate closing electronically and remotely. While digital closings are becoming more common, the availability of fully remote or electronic closings varies per state.

It is important to know that a digital closing does not mean an impersonal closing. Your title agent and notary are fully involved in the process. Our team can guide you in understanding your state’s requirements for a digital closing and outline the plan for your fully digital or partially digital (also known as hybrid) closing.

Our team is experienced in guiding clients through digital closings, providing the same level of engagement, communication, and support as we do for our in-person closings.

Digital closings allow parties of a transaction, lender, title agent, seller, buyer, and notary, to participate in a closing remotely. This is greatly advantageous in circumstances where contactless closings are needed or desired. It also provides an excellent solution if there is a lack of a notary in a specific location (such as in smaller towns or rural areas). Other benefits of a digital closing include:

• Easier scheduling of the closing since all parties do not have to be at the same place at the same time.
• Provides accessibility for individuals with mobility challenges or travel restrictions.
• Reduces the use of paper and saves on fees to print, copy, and mail documents.
• Allows for greater privacy since sellers and buyers do not need to meet at the closing.
• As long as there is reliable internet access, buyers and sellers can work, travel, or vacation even if closing on a property.

It is important to note that in a hybrid closing, buyers and sellers may need to be present in person (separately or together) in an approved location, however, documents are signed and notarized using secure electronic software. The release of keys (if applicable) is coordinated through the Realtors or mailed. For electronic keys, these are reprogrammed by the new owner after closing.

A digital closing can typically occur to complete the following:

• Seller Side: Signing the seller side documents of most transactions.
• Cash Deals: Signing both the seller and buyer side documents on cash transactions.
• Owner Financed Deals: Signing seller, buyer, borrower documents on owner financed transactions.