Due to the current business climate and ongoing Covid-19 crisis, New Venture Escrow is requiring all Earnest Money Deposits to be sent via wire. We are implementing this because we have our full workforce working remotely to ensure safety of our team and community.
At New Venture Escrow, the only documents that need to be signed with a notary are the Grant Deed and Loan Documents. Everything else can be signed digitally through our e-sign platform, VentureSign. As of today, Notary services are still considered essential business and signings are continuing to happen at the discretion of all parties involved. In efforts to continue to provide the best closing experience for our clients, we have a Notary Coordinator with a database of thousands of notaries throughout the county, willing and able to work. We are taking the following safety precautions for every notarized signing:
– Requesting all Notaries wear masks and gloves
– Sanitizing the thumb ink pad before each use
– Limiting attendees for each closing to only those who need to be there
– Providing hand sanitizer at the signing site
– Disinfecting the area between signings
– Providing new and separate pens to each individual for each closing
– In any case that a client is ill, we can always work with them and make alternative arrangements
The health and safety of the client and everyone involved is our number one priority and we will ensure this by customizing the notary experience with every signing.
We know that under the current rules and regulations due to the coronavirus, there are less eyes on the property throughout a transaction. This is especially important during the home inspection process. Consequently, things may start to fall through the cracks that otherwise wouldn’t. In order to protect buyers and sellers in the event of a disclosure violation, New Venture Escrow provides a “Seller Protection Plan.” The plan is a $25,000 E&O policy that is presented to the seller of an owner-occupied home at the close of escrow and is good for up to six months thereafter. This provides both buyers and sellers peace of mind knowing that they will be protected should any issues arise. Although we hope to never have to use this policy, it is crucial that we offer this extra layer of protection given the current conditions of the market.
New Venture Escrow has deployed our entire workforce remote. While we miss our team commraderie in our beautiful offices, we are prioritizing the health and wellness of our employees and community first. We have even found some new tech tools that have made our escrow lives easier and more efficient. We currently have a fully flexed remote workforce with 100% capacity and 100% capabilities. We believe, as a company, that the move to go 100% remote shows our commitment to getting past this moment in time and making sure we protect ourselves. Our industry was deemed essential, and most of the industry is still working in an office. However, with our tech forward platform, we are able to quickly and easily make this remote transition all while taking care of our staff and clients.
New Venture Escrow has been on a mission to remove unnecessary paper since its inception. The current business environment has highlighted the need for electronic signature as well as document movement and storage. Our proprietary systems have been tried and tested for years allowing escrow officers to work in this fast changing environment of the digital distancing. We have a complete document system that allows for everything (outside of anything regulated by the state to be wet signed) to be completed and sent from a phone or desktop. This system is ideal for transacting escrow and working remote.
The coronavirus pandemic continues to impact the real estate industry. Everything, from brokerage operations to how listings are being marketed and the ability to close transactions, is requiring REALTORS® to adapt to these extraordinary circumstances. The National Association of REALTORS® (NAR) understands that these unprecedented circumstances are impacting our members’ ability to conduct their businesses. Our members’ success and ability to navigate these uncertain times are paramount to NAR, and we are providing this guidance to help address some of the common transactional issues we are hearing about.
This is general guidance only. Members should consult their brokers, legal counsel, and government-provided public health information. In addition, check with your MLS for any changes to open house and showing fields, or other temporary rules in place due to local conditions.
In deciding how to address new issues that may come up in your day-to-day business, we urge you to find answers that will ensure first-class services to your clients, while also demonstrating care for the health and well-being of clients, agents, and the greater public welfare in reducing the risk of exposure to and spread of COVID-19.
Life is changing incredibly fast during the coronavirus pandemic and many industries are following suit, including real estate. While some sellers are deciding to pull their homes off the market and try to sell at a different time, that may not be an option for everyone.
With that in mind, if you are trying to sell your home in this market, there are some things that you can do to help keep everyone involved as safe and healthy as possible. Read on below to learn more.
Home sellers are canceling open houses. Lenders are extending the time it takes to close a deal. Realtors are skipping the live walkthrough, giving video tours instead.
From going to the office to dining out, there’s virtually no aspect of American life untouched by the coronavirus, and that now includes buying and selling a home.
Realtor Tim Collom, who began producing more sales videos and video home tours, said if coronavirus shutdowns continue for weeks or months, more people who need to buy or sell a home will do so without physically being in the home.
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