Although most people don’t aspire to buy a home while traveling out of town, or buying a home in Martinez from their living room in Chicago, it can be done. Home sales don’t have to pause because you find yourself in the hospital, or have an emergency trip. Yes, it still requires your involvement, but is easier than you might have thought.
What is a Courtesy Close?
A Courtesy Closing can help you when buying or selling an out of town home. It’s a service offered by mortgage, title and escrow companies to help people who are unable to travel to be at the closing themselves. There is a cost involved, and it can often be rolled into your mortgage or escrow fees. You will have to finalize the exchange from the courtesy closer to you in person at a later date. But you probably planned on seeing your new house in person anyway!
If you’re moving to a new city, this allows you to reduce the stress of moving by closing on your new home before you even leave your old city. Or you’ve already moved and are finalizing the sale of your old home. Imagine being able to move directly into your new home instead of staying in a hotel while waiting to close. This can help you save money on travel, hotel rooms and storage fees.
Using Power of Attorney
A Power of Attorney is a legal document that allows someone to act on your behalf. This is a great option if you have someone you trust to do exactly what you ask or to make great decisions in your absence. It’s unlikely that something will come up at closing that requires decision making. If there are choices to be made, you’ll want to trust the person you’ve appointed with Power of Attorney. You can give specific abilities to represent you (like in a house sale, but not to alter your will) and a specific time limit to this power. You’ll need to assign power of attorney in front of a notary public in advance.
You’ve found the house of your dreams. If buying it conflicts with either your vacation plans, or something entirely unplanned, you don’t have to give up. The Laura Wucher team can help guide you through buying or selling from wherever you may be.