Curbside closings are keeping the market moving

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Real Estate

From picking up pricey, frothy coffees to having a milkshake delivered by servers on roller skates, the concept of car-window transactions has been historically relegated to fast-food franchises and kitschy highway burger stands. Banks eventually caught on, and then pharmacies.

Unfortunately, due to the onset of a terribly fast-spreading virus that is claiming things more valuable than our incomes, real estate is the next big industry sector to leverage the convenience of the drive-thru deal, now known as “curbside closings.”

While digitized documentation is common industrywide, real estate transactions traditionally slow down come closing.

Between the sheer volume of pulp product it takes to buy a house to the often vexing nature of each document’s purpose, historically, both consumers and professionals have found it easier to embrace the pain of pen and paper, page by agonizing page.

But that seems to be changing.

There might (probably will) be delays.
Adding pressure to the idea of closing on a home now is the debate over real estate as an essential business. Most of the country has agreed that it is, but that doesn’t always help worried buyers and sellers.

Digital closings (and virtual real estate in general) can cut through the debate, allowing escrows underway to be finalized and offering buoyancy to a nationally critical line of work.

Understandably though, closing dates and post-close relocations may need to be pushed out a few weeks or longer, requiring some additional cooperation among buyers and sellers.

At drive-in closings, the company puts up signage to indicate where each party should park. Some people are comfortable with their windows all the way down while others ask for paperwork through narrow gaps.

Call it the latex-glove treatment.

More here.

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