Friday, July 22, 2011

What is an Electronic Signature?




Technology has taken over the world and improved every industry, including the real estate industry. With technology, the real estate industry is constantly becoming innovative and making processes simpler and more efficient. The latest form of technology that has helped make the real estate industry more efficient is electronic signatures (E-signatures). The electronic signature service streamlines workflows and reduces the time it takes to complete transactions. On average, 50% of forms are completed in less than 8 hours and 97.4% are completed in less than 48 hours. And electronic signatures can easily handle last minute revisions without delaying a sale.

An electronic signature is any paperless and legally recognized means of entering into a contract, including electronic symbols, sounds, or processes logically associated with a contract. They can include agreements made by email, facsimile or entering your personal identification number into an ATM. Many people use electronic signatures on a daily basis without realizing it. Paying a bill online or purchasing a product through a website are simple daily examples of electronic signatures.

Benefits of using electronic signatures in the Real Estate Industry:

Safe and Reliable

Electronic signatures include an encrypted code ensuring its security as well as its legality and enforceability. After the signing is completed, the electronic signature database digitally stores all documents for quick and easy access when needed.

Save Time, Save Money and Go Green!

With electronic signatures, the need for paper-based contracts is totally eliminated. Documents can be signed online from anywhere and at any time you have computer access thereby saving the time, travel and money associated with chasing down volumes of paper.

As part of Escrow of the West’s ongoing commitment to provide a level of service unparalleled in the industry, we are pleased to introduce the availability of electronic signatures to our delivery options. Always on the cutting edge of technology, Escrow of the West has teamed with DocuSign®, the market leader and global standard for electronic signatures to offer a complete web-based eSign solution to help our clients close business more efficiently and safely. Our technology experts can show you everything that you need to know about DocuSign®. Give us a call for more information.