Making History with Alabama's First 100% Remote Home Purchase Closing
April 14, 2020
History has been made with the first 100% fully remote lender closing in the State of Alabama. The event took place by video conferencing on Tuesday, March 31, 2020, at 2:00 PM. The buyers, closing attorney, loan officer, and managing broker were remotely present for the event. "This couldn't have happened within two business days after Alabama's Governor, Kay Ivey's proclamation without the coordinated efforts and our affiliated partners, TitleSouth, LLC, RealtySouth and Prosperity Home Mortgage (PHM)," shares Richard Grimes, "We are so proud of this accomplishment. This was a concerted effort by all."
"We have forward thinking people in all of our divisions who have been working on remote closing solutions long before COVID-19 was a health threat. That is why we were able to mobilize this safe option so quickly the moment we had legislative authority to do this with success," states Amye von Seebach, President, TitleSouth, LLC.
Tim Wilson, CEO of PHM, gave the consent within hours of the Governor's proclamation. Alabama's PHM Regional Manager, Wendie White says, "I do not know of any other lender who has agreed to allow this type of tele-notarization closing yet, this was the first." "The safety of our buyers and sellers are our number one priority, and with this new remote ability to continue business as usual will provide relief to our clients and boost trust in our company, our agents, and affiliates," tells Christy McDonald, Managing Broker, RealtySouth Trussville.
Ms. von Seebach adds, "The current environment of the world to practice physical distancing is an indicator that this is truly a health crisis. However, residential real estate is one of the main drivers of the world economy. RealtySouth and their affiliated partners acted swiftly to allow a valid way to safely conduct business by closing on real estate transactions allowing our communities to continue to buy and sell homes, helping to control the curve of a financial crisis."
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Source: "Making History with Alabama's First 100% Remote Home Purchase Closing" RealtySouth (March 31, 2020)