by Maureen McCabe - Columbus Closings Changing in 2010 - September 2, 2009
A Real estate closing is when the ownership of the property changes hands. We do round table closings in Central Ohio until the end of 2009, then we will start doing escrow closings like most of the rest of the world.
NOW in Central Ohio we all sit around the table (in theory) and sign closing documents - Central Ohio Round Table Closings
When in Rome do as the Romans do.... When in Columbus do as Columbusites do.
I started selling real estate in the Dayton area in the late 80's and we did round table closings there... the brokerage I worked for was based in Cincinnati so I assume that the Cincinatti area was also doing round table closings in the late 1980s. I remember hearing that Cleveland did escrow closings. oooooh different....
I moved to Columbus in 1990 and we did "round-table" closings in Columbus. To me a round table closing is a normal closing. There have been rumblings for years that we could be, should be doing escrow closings in Central Ohio.
We will be doing escrow closings in Columbus after January 1, 2010.
Steve Mills of Chicago Title made a short presentation to our office, Real Living HER Worthington, Tuesday September 1, 2009 about the changes we will see at the beginning of 2010.
Columbus Closings Changing - 2010
Will there be Columbus Board of REALTOR'S® contract changes? Or does the current language about closing and possession suffice? The contract says about closing:
13. Closing and Possession:
13.1 Closing: This contract shall be performed and this transaction close on or before
_________________________________ unless the parties agree in writing to an extension."
Looks like I will have to update the closing information on my website.
Maureen McCabe Real Living HER Worthington
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