Real estate prices are surging in South Florida and surprisingly there is no dip in the new home sales. However, the percentage of homes that are sold below their listing prices is increasing. One of the primary reasons that leads to such scenarios is delay in closings. With electronic closings buying real estate from any part of the country is a breeze. Anyone who wants to diversify and tap new markets with a good promise can easily do so with eClosings and eSignatures.
When a real estate purchase reaches the closing stage, numerous standard and procedural documents must be signed and notarized. All closings entail many pages of paperwork filings and signatures from all parties involved in the transaction. Traditionally, to have signatures verified and notarized, parties would need to sign documents and appear at a physical location at a predetermined time. However, many states have now implemented laws that enable virtual signature verifications. Electronic closings are revolutionizing real estate! Instead of a pile of paperwork and in-person signings, you can now review and sign everything securely online. RON lets a notary verify your identity and signature virtually. It’s faster, easier, and eliminates the need for a physical closing appointment.
South Florida’s Evolving Closings
Gone are the days of mountains of paperwork and stressful closing appointments in South Florida! Since January 1st, 2020, the state has embraced electronic closings, making the real estate closing process smoother and more convenient. Here’s a breakdown of what you need to know:
Signing From Anywhere
Now finalizing your dream home purchase without leaving your couch is not a dream or figment of imagination. Electronic closings allow you to securely review and sign all the necessary documents online, no matter your location. This eliminates the need to be physically present at a closing office.
Remote Verification
You need not worry about the validity of online signatures as the process is secure with dual verification and encryption. A licensed notary public, physically located in Florida, will verify your identity and witness your electronic signature through a secure video call. It’s just like a traditional notarization, but done virtually!
Simplified Process
An eClosing streamlines the entire process. The title company uploads all the documents to an online portal, allowing you to review them at your own pace. You can ask questions and receive clarifications electronically before the signing session with the notary.
Faster Turnaround
You can now say goodbye to lengthy closing delays. An electronic closing eliminates the need for physical document handling and courier services. Once everything is signed electronically, the transfer of ownership can happen much quicker, potentially saving you valuable time.
Enhanced Security
Electronic closings utilize secure platforms that encrypt your sensitive information. This minimizes the risk of fraud compared to traditional paper documents that can be easily misplaced or tampered with.
Conclusion:
Whether you are buying a property from the FSBO or for sale by the owner or a realtor, closing electronically saves time, money, and effort without compromising the security of sensitive information. It’s time to change and get progressive with real-estate closings.
The post 5 Things You Need To Know About Electronic Real Estate Closings In South Florida appeared first on South Florida Caribbean News.
