How do you handle the closing process from outside the US?
We're American expats who own one property and are looking to acquire more, but are running into problems with financing and the closing process because we are located outside the US and don't want to return to the States just to complete paperwork.
We're using conventional financing, and don't want to involve family in the US or take on a business partner just to do the paperwork. Is this the kind of thing we could have a lawyer do for us - or are there other approaches people here have used (or would recommend we avoid)?
This would depend on
A) where you are
B) where the property is
C) What your title company is willing to do
D) What the lender requires
Here in Colorado I am confident my title company would let me close from most countries in the world. But I have dealt with lenders/Title companies that were a total pain in my rear.
In the past year I know two overseas clients who purchased in Boston, they found an experienced RE lawyer to handle everything. Between them and an experienced RE agent who keeps you well informed, purchasing RE while overseas is pretty easy.
If you use financing, the bank likely will ask you to have the closing documents certified (which you can do at a US consulate). After certification, you can send all documents to closing attorney. There might still be some other documents signed on closing day itself so you probably need to give the attorney Power of Attorney too.