Using Technology to Close a Home

According to the American Real Estate Society, the current pandemic has transformed the process of real estate transactions. Most real estate events and correspondence have become online since social distancing should be a priority. Fortunately, the present health crisis does not stop many homebuyers from closing a home. If you want to find out how technology can help you close a home, here’s what you should know.

 

Online Property Tours

Technological advances have given birth to video tours of properties on the market. These detailed tours allow potential buyers to see every room, flooring, appliance, fixture, and piece of furniture. You can view pre-made and uploaded video tours on YouTube or Facebook. Video chatting platforms such as Skype or Facetime can also provide this kind of virtual tour.

Virtual Searches

Many people have been searching online for houses even before the pandemic started. This gives them access to the property databases of various credible real estate websites. When you check out online property listings, you get an idea of what properties are on the market. The Internet also gives you the opportunity to talk to the seller even before you visit the property.

Online Meetings

You should communicate well with reputable and licensed real estate agents to end up with your dream house. Doing this online can help you think of a plan on how to purchase a home during this challenging time. Through online meetings, you can talk to your agent of choice without leaving the safety of your home.
 

Virtual or Drive-by Appraisals

Before the pandemic, home appraisers entered the homes they need to look at. Now, appraisers can perform virtual or drive-by appraisals. Through this limited yet safe procedure, the appraisers can do their job while helping in the fight against COVID-19.
 

Digital Method of Signing

Thanks to innovative digital signature software applications, you can now affix your signature without appearing in person. Your lender or real estate agent can send you documents through your email or messaging app. You can then sign those documents with your electronic signature in the safety of your home.
 

Drive-thru Closing and E-closing

Before the pandemic, closings always took hours in the presence of all participating parties. Because of COVID-19, you can close a home by having a drive-thru transaction at the designated bank. Other lenders prefer using e-closings that involve fewer hardcopy documents. With this option, you only have to sign the legal documents with a pen. Then, sign the rest of the documents in the portable drive with your electronic signature.
 

Cashless Payments

To make sure that you don’t have any risky contact with anyone or any contaminated objects, you can use your credit card or wire payments. You can also choose to send a check through regular mail.

 

Closing on a home using the latest technology ensures your safety and health during the pandemic. At Blue Horizon Realty & Lending, Inc., we are ready to assist you in getting your dream property while observing the pandemic regulations. Please visit our office in Escondido, California, for an in-person consultation. You can also call us at (760) 237-4092 if you want to schedule an appointment or ask questions about our home closing packages.

References:

https://www.nytimes.com/2015/08/19/your-money/using-technology-to-close-a-mortgage-and-relieve-stress.html

https://stationcities.com/using-technology-to-close-on-a-home/