Here’s the scene.
You love the house. You ran out on your lunch break to see it before anyone else could get in there. It was everything and more so you called your spouse in to seal the deal and YES! you want to make an offer now.
Too bad. Lunch break is over and the paperwork is not ready yet anyway. Now you remember you’re working late tonight and your other is leaving for a business trip but this home is HOT and you need to get your offer in.
The solution? Your agent should already have it for you. It’s called DocuSign. An electronic signature software that allows a completely paperless transaction and the parties involved can sign from anywhere they have access to a computer. Sound illegal? Sound complicated? It’s not! Former President Bill Clinton actually signed in the eSign law a decade ago legalizing e-signatures. And now, at long last, FHA has finally decided to accept them as well. Yes, I know, ten years after the law is passed.
DocuSign is what needs to be done to smooth out some of the severely dated real estate practices that agents seem loathe to give up. Because there are so many parties involved in the transaction, paper contracts often get faxed and re-faxed until they are illegible. Agents often find themselves driving here and there to get signatures on things. Ridiculous! Now everyone can be anywhere and things can be signed and set back and forth at the touch of a button. Contracts can be finalized and filed for closing within hours and not days.
The green factor here is also huge. Real estate residential purchase contracts and all their supporting documents are frequently 24-30 pages long. Imagine all of these copies of the contract being printed and signed and faxed and filed by all the different parties involved and you are talking about a lot of paper being saved with the use of electronic signatures. Not to mention the gas we’re not using running around delivering original copies of paperwork.
I’m happy to report that I utilize DocuSign technology and have been a happy customer for over a year now. See how it works in the video here.