While it is possible in many cases to close title to residential property remotely, the custom in New York is to attend an in person, sit down closing. This is especially true when the Purchaser is obtaining financing. The lender will often have documents that both the Purchaser and Seller will need to sign. For example, the Purchaser will need to sign a note and mortgage and the Seller will need to sign the deed, transfer tax documents, closing disclosure and related tax forms.
During the government shutdown due to the COVID-19 pandemic attorneys got creative and closed deals via federal express when possible or outdoors in parking lots with facemasks on. After the government shutdown ended in person closings resumed.
*Thank you for taking the time to read this article. This article is part of our “From Contract to Closing; Demystifying NY Residential Real Estate” Series. Other aspects of residential real estate transactions in New York are discussed in other Parts of this series.
For questions about residential real estate law, or general information about our firm, please contact us at (914) 338-8050 or send an e-mail to email@example.com. We look forward to hearing from you.
Betensky Law PLLC
118 N. Bedford Road, Suite 302
Mount Kisco, New York 10549
This is ATTORNEY ADVERTISING. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of an attorney/client relationship. Prior results do not guarantee a similar outcome.