March 14, 2022
Most NNN property closings are performed using a method called an “escrow closing” versus a traditional “round table” closing in which all parties meet in person. An escrow closing is easy, reliable, cost-effective and much safer these days by virtue of avoiding physical contact. There are several ways to conduct such closings but the general process is that required closing documents are signed by all parties and deposited with a trusted escrow agent, such as the title company, funds are wired, and once all parties are satisfied, escrow is broken and documents are released to be recorded. Parties can be located in different locations and documents can be scanned, reviewed and approved with agreements (called undertakings). It is important to note that while electronic signatures can be viewed and approved by parties to the transaction, electronic filings are still not yet permitted or processed in all county offices, so it is imperative that the original documents are sent and make it to their ultimate destination.
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