We've all gone to the drive through for the convenience factor at one point or another in our lives. Whether it's to pick up fast food when you are in a jam, or picking up prescription medication, the drive through lane is like an express ticket to get your goods quicker. In these tough times that the coronavirus has presented us in all facets of life, we're starting to see drive through real estate closings. Yes, drive through real estate closings are actually happening. Today we'll share with you how this works and outline why this may become a thing in the not so distant future.
How do Drive Through Real Estate Closings Work?
Considered an “essential” service in these dark days, people still have to close on homes they purchased. A Denver area company was referenced in an article related to the closings, and The Denver Channel outlined how Tom Zimmerman and his company, Unified Title Company, started doing this in an effort to keep the community safe.
The drive through closings rely on the good old fashioned telephone for a lot of the legwork, and when that's all completed, the buyer shows up on closing day and simply signs the documents from the comfort of their own vehicle.
The report also interviewed a realtor, John Harding, who discussed how the business must go on, and how the real estate market is still active. He did note, however, the less offers are being fielded and that in his area, it's still a sellers market.
Of course, as we noted in an earlier blog article, there are many precautions taking place when potential buyers are seeing homes. Homes are now being shown virtually, sanitizer is used on all doorknobs, and prospective buyers are asked not to touch anything once they enter the house. It's definitely a different ball game but the safety precautions are for everyone's best interest.
In light of this pandemic, there are steps you can take with your lender to delay your closing and not incur any fees for doing so. This is something you should talk about directly with your lender.
Of course, as seasoned real estate professionals who have been through many market cycles, hurdles, and natural disasters, we can guide you through the landscape of real estate investing at any point. Get in touch with us today to learn more about making money in South Florida real estate.