Beth:
Hi, I’m Beth with TB Properties Buys Land. Today, I’m going to address a question that we were asked by a land seller about closing. Their question was, “Am I going to be closing in-person or will I be closing virtually?” That’s a great question. Today, people live and own property all over the country. They might live in one state, but they own property in other states or maybe even own land just a few hours away from where they live. It’s not always feasible for property owners to travel to the location of where their property is in order to close on the sale of the property. With the advent of technology, virtual closing is now available. It’s also important to know that when you’re working with a title company to sell your property, and TB Properties Buys Land always works through a title company, it keeps the transaction safer, cleaner, and it ensures that the paperwork is done correctly.
It’s important to know that title companies are licensed to close in certain counties. If you prefer to close in-person outside of a county where your property is located, sometimes that’s feasible. We just have to try to locate a “sister” title company. What that means is using more than one title company which can be a little bit costlier. To explain how it works, the title company where you’d be showing up in-person to sign would have to hire out the title search to a title company that’s licensed within the county where your property is located. If closing in-person is important to you, often this can be done and we at TB Properties Buys Land have worked to make this happen before. With this said, closing virtually can be very convenient and it is done every day, and it’s very, very easy. It’s also very safe. One of the ways that TB Properties Buys Land allows you to close virtually is just through the signing of the contract process.
When we make you an offer on your land, we use a very simple one-page purchase agreement. It’s very easy to understand and we keep it very simple. Most of the time we will email you a copy of our one-page contract, there have been cases where we have been asked to snail-mail it and we have done that as well. If emailed, you have several options for signing it, depending on your level of convenience and comfort with technology: you are able to print the contract if you want and sign it, and you can snail-mail it to the title company. You can print it and sign it and choose to scan it and then email it back to us. Or you can even take a picture of the signed contract and email/text it to us. The most convenient option, in my opinion, is to e-sign. We will email you a copy of the eSign contract and you can open the contract on a smartphone, a tablet, or a computer. It allows you to select a signature font and then you type your name in and you’ve electronically signed it. That e-sign captures your IP address of your computer and lets the title company know that you signed it from your computer or your phone. Once signed, you will automatically receive a copy of the signed contract and we will then email it to the title company.
Title companies accept that as a legal signature. Often they will send certain documents out to you and ask that you eSign those documents for them. Esign is something that we do all the time. Returning the signed contract back to us simply depends on what you feel comfortable doing. Each of these ways I’ve described is acceptable to Title Companies.
Next, if you’re ready to sell your property and close, you’re able to close virtually. As a land seller, they need your wet signature on the deed, and they need that wet signature to be signed in front of a notary so that the notary can notarize the deed. When choosing to close virtually, you have a few options. One is that the title company can email you your closing documents and allow you to either print your paperwork, or they will overnight you a packet of all the paperwork that needs to be signed. Then you would take that paperwork over to your local bank or your local UPS or FedEx store that has a notary on staff. There, you would sign all the documents in front of their notary. They’ll notarize the documents for you and since the Title Company would include an overnight shipping label, you would be able to return the documents easily back to the Title Company. If you are already at your local Pack-Mail place or FedEx/ UPS store to notarize, they would drop all of your paperwork into their envelope and using the pre-paid label, send it directly back to the Title Company without you having to write out addresses, etc.
When closing virtually, you don’t have to make an appointment to come in-person to sign for the sale of your land. You can do that by signing in front at your bank’s notary or at your local Pack-Mail type place. However, if you are local and you feel more comfortable driving in, be sure to make an appointment with the title company and they’ll allow you to sign in-person during your assigned appointment time. What is great is that you have multiple options when closing on the sale of your land and you can choose to do what feels most comfortable to you.
When working with TB Properties Buys Land, we will always close with a title company, so that you are protected. You will receive cash for your transaction. We have to provide certified funds to the title company, and they will pay you out the funds. They will not transfer the title of your property until they have all the paperwork from both you as the seller and we as the buyer. They have to have a confirmation of our certified funds within their escrow account before they will do that. With this process you know that you’re going to be safe when working with a company like TB Properties Buys Land because we’re working through a title company. Because we pay in cash, the transaction can close a lot faster. You’re not waiting on us to be approved for a loan and to wait for an appraiser to come out, that sort of thing. So if you have rural vacant land that you’re interested in selling, please feel free to reach out to us. We’re happy to make you an offer and work with you. We look forward to hearing from you. Thanks again for tuning in.