Digital Real Estate Closings – Sign of the Times

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March 2, 2020
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Digital Real Estate Closings are changing the landscape of real estate transactions. The availability of this technology could not be more timely, particularly in the midst of the COVID-19 global pandemic.

Traditionally, it has been necessary for buyers and sellers to take a day off of work to handle real estate settlements. But, the increasing availability of eNotary technology is making the real estate closing procedure much more convenient and efficient.

The process of an eClosing is generally the same as a traditional closing. However, the consumer is not required to appear in person before the notary.

All documents are electronically delivered, signed, and notarized by an eNotary. The entire process takes place on some form of a touch device similar to a touch-screen laptop or tablet.

In addition to its convenience, the security of electronically notarized documents is higher than that of the paper-based process. The digital closing process makes it much more difficult to tamper with electronic records.

Digital Real Estate Closings are advantageous for all parties involved in the real estate transaction process.

The Benefits of Digital Real Estate Closings:

Photo by William Iven on Unsplash
The availability of eNotary technology makes real estate closings more convenient, efficient, safe and cost-effective.

For the Lender – 

  • Streamlined business processes with error-free operations
  • Improved data and loan quality
  • Elimination of missed signatures

For the Title Company –

  • Ability to standardize the process with error-free operations
  • Quicker delivery of closing documents to lenders
  • Elimination of missed signatures

For the Consumer and Borrower –

  • Can access and review all documents anywhere, anytime from any browser
  • Increased consumer satisfaction
  • A convenient, faster and more transparent experience

Other significant advantages of a digital closing process include cost savings, authenticity, audit trails, risk reduction, and document integrity. Many of these benefits are not available with paper-based notarizations.

If you would like to learn more about eClosing procedures or speak to an eNotary directly about your upcoming real estate transaction, contact the eNotary expert at the law offices of Leo T. White by phone at (610) 579-9141  or by email at ltwesquire@aol.com for proper guidance and direction.

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