Esign Real Estate Documents, the new ease of buying real estate
There's a phrase that's been said very often by real estate agents lately. The phrase goes something like this, real estate has changed more over the last few years than it has over the last 100 years. Pretty wild to think about, but completely true. If someone said 5 years ago that blogs would attract huge followings, you'd likely ask what a blog was!
In the old world of real estate you would print (or photocopy) a contract, hand write in the terms (possibly with a Quill pen), then deliver it to the other parties agent (either by hand or Pony Express). Technology progressed and you were able to create a word document, hand sign the document with a ballpoint pen, and then fax it to the other parties agent (remember how impossible it was to read a fax after it had been sent back and forth 3-4 times?). Today I can access a contract in PDF form, type in the terms, and email it to a client for esign. I can also do all of that in 30 minutes or less, and it's legally acceptable!
For those not familiar with electronic signatures, let me take a moment and explain esign. In the past if you signed a document someone would witness the signature, maybe you would show a photo ID. When a document is sent out for esign it's emailed to your personal email address, and the IP address of your computer is recorded to verify the signature. This creates a legally binding signature.
E-signatures are now widely accepted in real estate transactions. The last domino to fall in the total acceptance of electronic signatures as they relate to real estate occurred in October of 2012, in my opinion. That was the month and year that Fannie Mae began accepting esigned documents. Think back to the not so distant future and remember that 50% of the real estate transactions were REO's during that time period. The acceptance by Fannie Mae essentially accelerated the general acceptance of esign documents, in my opinion.
The ease of esign is slowly catching on. Most clients that I send a document to for esign are amazed by how easy it is to use. I use a service called Form Simplicity. All of the real estate contracts, and addendums, that I use are already saved for me. Each transaction gets a folder and I'm able to easily make changes to contracts, then upload them for esign. It's allowed a seller located in California, and a buyer located in Boston, to sign any document I need with a few clicks of a button. You can even sign from an IPhone! Esign has been such an amazing technological advance, and has truly reshaped the real estate world I operate in.
If you're thinking of buying real estate in Fort Lauderdale and geography is holding you back, don't worry about it! You can buy a beautiful condominium with a view of the Fort Lauderdale Intracoastal without leaving your desk, wherever that desk may be.
I work as a Realtor in Southeast Fort Lauderdale. If you’re interested in buying or selling a home, condominium, or townhouse (townhome) in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Sailboat Bend, Tarpon River, Croissant Park, Collee Hammock, Wilton Manors, Poinsettia Heights, Coral Ridge, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email firstname.lastname@example.org. I am a Realtor that works on Saturdays to accommodate those with busy schedules.
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Written By Casey Prindle