The Role Of Notary Signing Agents At Real Estate Closings
The date for your closing has been set. Congratulations! The result is near, and you’ll soon be back in your own home.
Do you know what to expect on the day of the closing? There may be a large group of people sitting around a table passing actual paper, or there could be a virtual group of people moving their fingers over their laptop or tablet screens.
In either case, the sale cannot happen without the presence of a notary signing agent.
What Is A Notary Signing Agent?
To become a licensed notary signing agent, notaries public must first complete additional certification requirements and pass a background check. They must also complete educational requirements that focus on proper loan paperwork processing. State-by-state regulations differ, but the majority require applicants to pass a test and have a clean criminal record.
What Is A Notary Public?
A notary public performs a quasi-judicial, or ministerial, function by allowing a duly qualified person to evaluate documents in order to verify the identity of a document signer by carefully inspecting the paperwork presented by the signer. They also make sure that signers are acting freely and that they are aware of the documents they are signing. A notary public can administer oaths when necessary to ensure that any statements made are not vulnerable to perjury penalties.
The notary’s signature certifies that the transaction was completed without fraud or duress. Local officials in charge of recording title changes will not accept legal documents – such as those transferring title from seller to buyer – unless they are signed and stamped by a notary signing agent. A missed signature can be replaced later, however a missing notary signing agent’s seal necessitates rescheduling the closure.
Why Are Notary Signing Agents Required
To avoid title clouds or faults in the future, local governments must appropriately document title changes. As a result, notary signing agents play an important role in the closing process. The NSA’s function is to ask questions to ensure that the proceedings are free of fraud and duress, as well as to administer oaths to ensure that the parties’ statements are given under penalty of perjury.
How Are Closing Agents Essential To e-Closings?
If you bought a house even ten years ago, you probably weren’t given the option of closing online. In-person transactions were more comfortable for property clerks. This is because analyzing fake documents or determining whether a party is under duress on a computer screen is more difficult than it is in person.
The legal and real estate industries have been hesitant to adopt new technology, but with the recent pandemic, the pace of change has increased. Executive directives are authorizing e-Closings, and legislation allowing electronic signature verification is in the works.
How Are Loan Servicing Agents Chosen?
NSAs must be objective and must have no personal stake in the transaction or the parties involved. Notaries are picked at random from a qualified pool for each closing to ensure impartiality.
At PDX signing, we provide you with a well experienced real estate notary to get your work done. Give us a call today! Click on the below mentioned links to get in touch with us.
Notary Services- Tigard, Portland
Notary Public – Hillsboro, Oregon,
Notary Public – Beaverton, Oregon
