During these uncertain times we are striving to provide all necessary title and escrow services to our clients while still protecting the health and safety of our employees and office visitors. In order to exercise an abundance of caution, and limit our person to person contact, during the COVID-19/Coronavirus pandemic we are implementing the following procedures at the GIT Group of Companies. Thank you for your understanding during these unprecedented times.
Note: We are requesting that only those persons that need to sign documents be present at the closings. Additionally, all attendees will be asked to complete a Health Screening Form.
Cash Transactions
Cash transactions may be closed electronically via e-mail and/or DocuSign, upon request. The staff at GIT are well trained in closing transactions using these methods.
Recommendations to assist in this process:
- Please send all necessary documents, including any documents that were pre-signed, to your GIT office in advance of closing, via email for review by GIT staff.
- GIT will coordinate the signing of any additional necessary documents via email or DocuSign, if necessary. GIT will send a link to signers for a one time sign-up. If a POA is being used, the link will be sent to the person with authority to sign.
- A UPS or FedEx label will be provided at no additional cost to any party that needs to send GIT documents or checks, including the original deed.
- Proceeds and other disbursements will be sent by GIT overnight via UPS.
- Documents requiring notarization will still require ‘wet ink” signatures in Illinois and those states that do not have functioning Remote On-Line Notarization statutes implemented
Lender- Seller Instructions
Lender funded sale side transaction.
The process below eliminates the need for the Seller and Seller’s Representation to attend the closing in person.
- Please send all necessary documents, including any documents that were pre-signed, to your GIT office, in advance of closing, via email for review by GIT staff.
- Closing Statements will be emailed to all parties for review prior to closing.
- GIT will coordinate the signing of any additional necessary documents via email or DocuSign if necessary. GIT will send a link to signers for a one time sign-up. This includes any documents that the lender requires other parties (i.e. Realtors®) to sign, if approved by the lender. If a POA is approved by the lender and being used, the link will be sent to the person with authority to sign.
- A UPS or FedEx label will be provided at no additional cost to any party that needs to send GIT documents or checks, including the original deed.
- On the day of closing the final Master Settlement Statement and Seller CD will be sent out for final approval and signature.
- Proceeds and other disbursements will be sent by GIT overnight via UPS or FedEx.
Lender- Buyer Instructions
Lender funded buy side transaction.
- Closing Statements will be emailed to all parties for review prior to closing.
- Seller and title documents can be reviewed and signed electronically before closing using DocuSign, if necessary, as described above
- Only Buyers or their representatives or legal counsel required to sign Lender documents should attend the closing.
- After document signing, parties will be notified once transaction has funded.
- Once the file has funded, proceeds and other disbursements will be sent overnight via UPS along with a signed closing statement or available for pickup.
- We are happy to request lender approval of POA’s if requested in order to facilitate the closing POA’s must approved by GITGC, Attorney and Lender prior to closing.
We understand the need for flexibility during these times, and we will be able to accommodate clients in our offices, or via a “drive through” signing whereby only documents that need a ‘wet ink” signature will be presented to the borrowers with proper government issued ID. This is all part of GITGC’s striving to implement “No Contact Closings”. Thank you for your understanding and patience during this extraordinary time.
If you have further questions or need assistance with anything, please reach out to us!