A courtesy closing is a service where a title company, law firm, or closing agent facilitates the signing of closing documents on behalf of another title company or lender, usually as an accommodation.
The party conducting the courtesy closing typically:
- Witnesses and Notarizes Signatures: They ensure that all parties sign and notarize the necessary documents correctly.
- Handles Document Review: While they don’t make changes, they check for completeness and accuracy.
- Returns Documents: After the signing, the documents are returned to the original title company or lender for final processing, funding, and disbursement.
Courtesy closings are often used in situations where the parties involved are geographically distant from the title company or when a buyer, seller, or borrower prefers a more convenient location.