As your closing day approaches, you might realize you need a notary present. If you have never dealt with one before, you might wonder about the role of a notary public.
What does a notary do at a closing? Why do you need one? Read this post to learn more about what a notary does and its role in real estate closing.
Let’s start by discussing the general function of a notary public. In basic terms, a notary is a person with legal authorization to witness document signings. They get their authority from the state. The notary acts as an impartial witness to verify signers’ identities and affirm that signatures are authentic.
When it comes to real estate closings, look for a specific type of notary public. A notary signing agent is a type of notary that specializes in loan documents and real estate closings. They have additional training to help them understand the finer points of real estate deals and the relevant documents.
A notary public plays a significant role in closing a real estate deal. They ensure that all parties properly handle the closing process from start to finish.
To start, they verify the identities of all parties to the transaction. The notary will also review the documents before the signing. They will make sure there are no mistakes in the documents. The notary will also explain the purpose of different documents to the signers.
Once the documents are in order, they will witness the signings. The notary public will also ensure that the parties sign all the necessary locations. Upon completion, the notary will sign the documents and affix their seal.
The simplest answer is that you need a notary because it is a legal requirement. However, there are many good reasons to work with a notary for real estate closing.
The first is that it ensures the protection of all parties. A notary public provides official affirmation that the signing was legitimate. They also make sure you execute the documents properly. Along with that, their experience and knowledge make the process faster and easier.
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