Buying or selling a home is a challenging and complex life event. Prospective clients need a competent advisor to guide them through the many steps of the transaction and to protect their financial interests, as well as to share relevant information on neighborhoods, nearby development plans, taxes, zoning rules, transportation, schools, and community amenities. From beginning to end, the whole process is demanding and time consuming.
It is estimated that around eighty percent of Americans go online to research and gather information about real estate. The figure has grown dramatically over the past few years, with more and more historical and current data being available on the internet. While clients may browse and search for real estate online, the actual real estate transaction involves a substantial volume of documentation, and in the past this would necessitate a long, burdensome offline process of transporting and signing paper documents.
To avoid the hassles of traditional paper-based real estate transactions, many firms are upgrading their processes to facilitate e-transactions. What does the term e-transaction mean? It is an electronic sale that comprises all the contracts and related documents being transmitted and executed online. All parties, including sellers, agents, buyers, mortgage lenders, notaries, and lawyers, complete their roles of the transaction online. For a number of years, banks have utilized online workflows, with mortgage applications obtained by individual branches and transmitted to a central location for final approval. Appraisers are also preparing their reports online, without the customary in-person tour of the property being bought and sold.
Electronic signatures are the final key to e-transactions, and they are being adopted rapidly by real estate brokerages across the nation. The E-Sign Act and UETA law clearly state that electronic signatures obtained online have the same legal effect, validity, and enforceability as traditional paper signatures. Many real estate companies now have complete end-to-end e-transactions, using e-signature technology to their advantage and providing a faster, easier experience for their clients.
It is estimated that around eighty percent of Americans go online to research and gather information about real estate. The figure has grown dramatically over the past few years, with more and more historical and current data being available on the internet. While clients may browse and search for real estate online, the actual real estate transaction involves a substantial volume of documentation, and in the past this would necessitate a long, burdensome offline process of transporting and signing paper documents.
To avoid the hassles of traditional paper-based real estate transactions, many firms are upgrading their processes to facilitate e-transactions. What does the term e-transaction mean? It is an electronic sale that comprises all the contracts and related documents being transmitted and executed online. All parties, including sellers, agents, buyers, mortgage lenders, notaries, and lawyers, complete their roles of the transaction online. For a number of years, banks have utilized online workflows, with mortgage applications obtained by individual branches and transmitted to a central location for final approval. Appraisers are also preparing their reports online, without the customary in-person tour of the property being bought and sold.
Electronic signatures are the final key to e-transactions, and they are being adopted rapidly by real estate brokerages across the nation. The E-Sign Act and UETA law clearly state that electronic signatures obtained online have the same legal effect, validity, and enforceability as traditional paper signatures. Many real estate companies now have complete end-to-end e-transactions, using e-signature technology to their advantage and providing a faster, easier experience for their clients.
Mr. Moore is an expert in online technologies, including web applications, cloud computing, and business software. His articles on innovative products and new technology including those on electronic signatures have been published on leading online sites.
Article Source: http://EzineArticles.com/?expert=Kevin_R_Moore
Thanks a lot for highlighting the benefits of electronic signature in this field. This post explains the usage of electronic signature in real estate transactions as this technology eliminates the hassles of traditional paper-based transactions.
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