Closing on a home can be an exciting time for buyers and sellers. However, the process can also be tricky to navigate. Under the traditional approach, the parties would set a closing date in the purchase agreement. All parties would meet that day to sign documents, transfer the title, hand over keys, etc. However, there can be advantages to sellers pre-signing before closing.
This post will cover some reasons sellers might want to pre-sign closing documents.
Tennessee Real Estate Market Watch
As of July 2023, the median home sale price in Tennessee during July 2023 was $360,000. However, real estate trends are always changing. If you need title services for buying or selling a home in Tennessee, click here to contact us.
It can be challenging for all parties to meet in the same place at the same time. When sellers pre-sign, you can focus on the closing date that was agreed upon with the buyer. The seller will have the documents ready, and the buyer can sign on prior to the closing date. It’s a good option for sellers with busy schedules.
The closing process can be stressful. However, if you pre-sign, you know the documents are ready. It gives you one less thing to worry about and can help provide some peace of mind.
Pre-signing the sale documents is also more convenient. It offers the convenience of schedule flexibility. It also allows sellers the opportunity to review and sign documents on their own time so they can take as much time as they need to review the terms. It also allows you to sign the documents while the buyer handles other pre-closing steps.
The seller’s pre-signing could speed up the funding process or at worst not delay closing. Most buyers purchase homes with mortgages. The lender will want to review all documents before providing final approval. Pre-signing can ensure the documents that require seller signatures for lender review are ready as soon as the buyer signs, making the entire closing process smoother, including the release of funds.
Pre-signing can also save time for the seller. Getting everyone together in one place is difficult to coordinate and time-consuming. Pre-signing can save that time and hassle. It can be especially important if you are busy with work or preparing to move out of the house.
Do you want to learn more about title services? Click here for the Title Group of Tennessee blog. You can also contact us if you need title services in Tennessee. We offer a range of services to make closing easier and more secure.
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