Real Estate News: What Does COVID-19 Mean for Your Real Estate Closing?

We recognize that with the global COVID-19 pandemic comes many questions, including those related to your current and ongoing real estate transactions. Many buyers, sellers, and brokers are concerned with attending closings during the current push for social distancing and self-initiated quarantine, and we want to provide you with the latest news from the Indiana Association of REALTORS® (IAR).

Last week the IAR hosted a call with many leading managing brokers from around Indiana to address many concerns amidst the virus outbreak.

Regarding attendance at closings, although Indiana license law requires broker attendance, there is an exception that if you, as the client, do not want to attend, then your broker does not have to attend either. Within this exception, remote closings or requests not to appear in person are a possibility.

If you are not able or are unwilling to attend a closing, communicate with your broker, advise of the circumstances, and let them know that you will be available virtually, by phone or some other acceptable means of communication. Your broker will then document this disclosure as you move forward in your transaction.

Acting in good faith pursuant to emergency Centers for Disease Control and Prevention (CDC), local, state, and national guidelines in these unusual circumstances should protect both you, the client, and your broker from any violation of Indiana license law. As always, we are attentive to any guidance provided by the Indiana Real Estate Commission (IREC) and we will continue to update our clients with the latest news. Please reach out to your trusted real estate professional with any questions and concerns you may have in these unique times.

At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.

 

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