Whether buying or selling a home, you have likely been preparing for the closing day for some time. Now that it is almost here, you experience a crisis or a work issue that rules out your attendance.
Since you cannot be there, does it mean the deal has fallen through? Fortunately, you can still complete your residential real estate closing even if you cannot show up in person.
2 alternatives to physical attendance
No party involved in the transaction wants it to fall through, including the buyer or seller, lenders and title agencies. Depending on the laws in your region, there are likely other ways to close on the home.
Power of attorney. If you know you will not be able to attend, you can give someone the authority to act on your behalf with a power of attorney. The person you choose could be your spouse, a close friend, an adult child or a legal professional.
Mailed closings. The title agency mails you all documents required to close on the home. Upon receipt, you sign them before a Notary Public and send the paperwork back to the agency. This option requires advanced knowledge that you cannot attend the scheduled closing.
Prepare for the worst
You cannot anticipate every situation that could affect your residential real estate closing. However, you can work with a legal representative to prepare for such possibilities. For example, you could have them draw up a power of attorney to fall back on should a last-minute emergency bar you from attending in person.
As always, check the real estate regulations in Connecticut or wherever you reside to ensure your emergency measures are lawful.