Among Louisville Title Agencies, How to Find a Virtual Title Company?

virtual real estate closing

“Virtual Title Company” is now one of the most common searches related to real estate closings, which would have been rarely used prior to COVID-19. In short, the search would more accurately be, “which title companies offer virtual closings?”

Virtual real estate closings have also become phrased as “remote closings”, “digital closings”, “e-closings” and even “Zoom closings”. During COVID-19, the terms consistently meant that the participants in the closing were all safely ‘distancing’ in separate locations, usually using video conferencing (i.e., Zoom, Google Meets, etc.). Post-COVID, the safe-distancing requirement of a closing is nearly ended, however the flexibility of a virtual closing has now become a popular matter of preference for many buyers and sellers.

What is Required of a Virtual Title Company, to Offer Virtual, Remote Closings?

electronic signature

It is basically the legal acceptance of “e-signatures” for real estate closing documents, which makes closings legal in remote circumstances, with the associated documents (contract, title documents, etc.) all secured and verified under law. Interestingly, it wasn’t until April of 2019 when the Kentucky Legislature passed Senate Bill 114 into law, providing that notarized documentation would be legal by e-signatures, officially named Remote Online Notarization (RON) . At the time, Kentucky was one of only four states in the U.S. without this provision for RON, so the reform became timely in 2020.

Therefore the capability of e-signed closing documents was here (in Kentucky), in 2019, but until the sudden general need in 2020, many closing agents were not yet prepared, trained, certified and experienced with required e-signature software and processes. In 2023, most Kentucky title companies should be able to provide virtual closings, although meeting the minimum requirements of e-signatures, and accommodating all expanding needs of remote closings, are two different things.

How Common Are Virtual Closings, Post-COVID?

At Agency Title, now with four locations across Louisville, Southern Indiana and Bardstown, we have found that our greatest strength in transitioning to virtual closing, was our emphasis on always accommodating clients’ needs, and ensuring they are comfortable in the setting of a real estate closing. When the industry required virtually all closings to be remote and digital, we were prepared, but it was the experience in putting buyers and sellers at ease which addressed the real need at the time.

Today, virtual closings are much more common than Pre-COVID, but mostly because the new experience broadened the awareness of what is possible in closings, often for convenience more-so than safety. The following are among the growing frequency of requests for our Virtual Closings:

  • Video Conference

  • Mobile

  • Clients’ Office(s)

  • Lender’s Office

  • Realtor’s Office

As long as the final arrangement is agreeable to all in the closing, the virtual closing is all about convenience, comfort and efficiency, while still assuring legal security of the documentation and transaction.

For questions and accommodations with any virtual, remote and mobile real estate closings, please Contact us at Agency Title, and we look forward to discussing options.

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