What Is Remote Closing Now The Future of Real Estate Transactions?
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What is remote closing?
In this article, we’ll explain what remote closing is and how it works.
You’ll also learn about how to get started as a remote closer and how much they earn.
When learning more about remote closer there are different types to consider such as:
- Hybrid Closing: This is a combination of In Person and Remote
- Mail-away Closing: This is when the documents are sent via mail
- Remote Online Notarization (RON): This is a fully remote process
- Remote Ink-Signed Notarization (RIN): This is when the signatures are completely remote but with the use of traditional ink signatures
- Electronic Notarization: The documents are signed electronically
Remote closing works through technology that allows parties to complete transactions online.
The process typically involves the following steps:
Step 1: Choose a remote closing platform – Parties must select a remote closing platform that meets their needs. Some popular remote closing platforms include Notarize, DocuSign, and Qualia.
Step 2: Upload documents – Parties must upload the necessary documents to the remote closing platform. These documents typically include the purchase agreement, title documents, and loan documents.
Step 3: Sign documents – Parties can sign the documents electronically using the remote closing platform. The platform typically requires parties to verify their identity through a video call or other means.
Step 4: Transfer funds – Parties can transfer funds electronically through the remote closing platform. This typically involves wire transfers or other electronic payment methods.
Step 5: Close the transaction – Once all the necessary documents have been signed, and funds have been transferred, the transaction can be closed.
How Much Do Remote Closers Make
According to PayScale, the average salary for a remote closer in the United States is $50,000.
The compensation range is flexible between $32,000 and $73,000 per year.
Like with any profession, a remote closer’s pay may vary based on the kind of work they perform.
How Do I Start Remote Closing?
What is remote closing and how to get started?
First, make sure to get the right training.
Your state may demand a license or certification.
And real estate remote closers need experience.
Discuss remote closing with your real estate agent or lawyer.
You should also learn the tools of the trade which are: Notarize, DocuSign, and Qualia.
Once you have gained the experience you can do a job search online for the job title and then send out your resume.
From the search, I did there were a lot of opportunities to find work in this career field at this time.
Summing Up What Is Remote Closing
Now you know more about what is remote closing.
It’s simply a process of completing real estate transactions remotely or at least in part without the need of meeting face to face.
In the future, remote closer may become much more common.
It’s definitely more convenient and speeds up the process of getting paperwork completed.
You’ll need to check with your state if you are interested in this career field as not all states allow for a remote closer.
The salaries range from $50K up to $85+.
If you’d like to learn how to work from home check out this page HERE.
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