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The Hometap Guide to Closings Amid Social Distancing

By Hometap
March 26, 2020

The following document is intended for homeowners who have accepted an Investment Offer from Hometap and have scheduled their closing.

We have made some important adjustments to the investment closing process during this time of social distancing. Please carefully read through the following guide about your closing process, and reach out to your Investment Manager with any questions.

We are continuously working to ensure that our team members and partners understand and follow all CDC guidelines and best practices.

We are communicating with our partners, including home appraisers and closing agents, to ensure that no one is conducting inspections or closings who shouldn’t be, including those who have recently traveled, shown signs of symptoms consistent with those of the ongoing coronavirus, or who have been in contact with someone with symptoms. Please read and follow these guidelines closely, and reschedule your closing if you are experiencing symptoms.

Before Your Closing Appointment

Please review your Hometap Investment documents. If you have any questions, we urge that you ask your Investment Manager in advance of your closing, as the closing agent may not have the necessary information to accurately answer your questions.

The day before your scheduled closing appointment, your closing agent will call you. During this call, you should set expectations, including where the closing will take place and how you prefer to exchange closing papers. For example, you may tell the agent you wish to meet them in the driveway, at your vehicle, or at the front door.

To expedite the process, you will receive two files in an email prior to closing: one includes all of your closing documents, and the second includes all signature pages so that you can print them in advance of your appointment if you choose. It is important that you do not sign these pages without the closing agent present. The agent will also come prepared with all documents and is responsible for mailing all paperwork following the closing.

During Your Closing Appointment

The closing agent must verify your identification before accepting any signed documentation. You may do this by holding your identification up to glass doors or windows, screen doors, vehicle windows, or holding your ID out at a safe distance of six feet for the agent to verify. Valid forms of ID include a valid driver’s license, firearms license, passport, or permanent resident card. The closing process should take no more than thirty minutes.

Florida homeowners must have an adult (18+) witness present for the closing.

As we work together to reduce the spread of the virus, we ask that you take the following precautions:

  •  Avoid shaking hands with closing agent
  •  Sanitize entry door knobs before and after closing appointment
  •  Wash hands thoroughly before and after closing appointment
  •  Avoid sharing pens throughout transaction

We are excited to complete your Investment as safely and efficiently as possible

Thank you for your help!

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The opinions expressed in this post are for informational purposes only. To determine the best financing for your personal circumstances and goals, consult with a licensed advisor.

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