Redfin to Offer Digital Closings Through Its Title Company
November 15, 2018
Seattle-based brokerage Redfin announced a partnership with Notarize that will allow homebuyers to complete their transaction online.
According to Redfin, the partnership with Notarize will allow buyers to close on their mortgages when they use Redfin’s title company, Title Forward, and settlement company, Redfin Mortgage. The companies reported the partnership has already produced two digital closings in Texas. In a statement Redfin said that it “continues to schedule more digital closings as consumers learn about this option.”
Jason Bateman, head of Redfin Mortgage, told Inman the company anticipates that 10 percent of its November closings will be digital.
“I would expect in the coming months a good portion of our closings to be performed this way,” he said.
The service is available to consumers using Redfin Mortgage in Colorado, Illinois, Minnesota, Ohio, Pennsylvania, Texas, Virginia and Washington, D.C.
“Our closing solution is a natural fit for Redfin because their customers are accustomed to a digital, mobile product,” Patrick Kinsel, founder and CEO of Notarize, explained in a statement. “No longer do customers have to leave work, find a babysitter, coordinate schedules or travel to ‘The Closing.’ Our technology integrates to seamlessly deliver an easy, intuitive experience, so that buyers can get on to moving and unpacking boxes in their new home.”
There’s also the added benefit to investors who might be purchasing properties in other states and to those who may be travelling or serving overseas in the military when they need to attend a closing.
Contact ALTA at 202-296-3671 or communications@alta.org.