Should you opt for a digital closing?

Dated: May 24 2023

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Digital closings have been popular in recent years, especially as technology has evolved. They allow you to close on your loan from anywhere with a secure internet connection using only your computer or mobile device.

And while this can be great for busy buyers or those purchasing from afar, digital closings aren’t right for everyone.

Are you planning to buy a home soon? Here are some considerations for digital and in-person closings.

What are the options for closing?
You could have a traditional closing, where you go to your lender or title company to sign your paperwork. There are also hybrid closings, which allow you to sign some documents digitally and some in person.

What are digital closings like?
As with a traditional closing, you’ll sign your paperwork — but it will all be done digitally and typically over video. A remote notary, who is authorized to notarize your documents in the same manner, will also be on the call.

What are the pros and cons of a digital closing?

  • Pros: You can close on your home from almost anywhere and (often) at any time. You’ll save on travel costs and time (particularly if you’re buying from another city or state).
  • Cons: Digital closings might not be a smart option if you don’t have access to a secure and reliable WiFi connection. Additionally, remote notarizations aren’t legal or available everywhere; if you’re buying in a place where they haven’t been approved yet, you’ll have to do a traditional or hybrid closing.

Please get in touch if you have more questions about the closing process.

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Angela Maureen Caffrey

As a Law Enforcement professional, I served the public for decades with the highest integrity. After retiring, I transitioned into a full time Realtor, utilizing my knowledge of community, communicati....

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