Kim Mullan Blog
Electronic Signatures - Embracing Technology as a Buyer/Seller
September 8th 2017
Goodbye lousy fax transmissions...
printed, countered, re-signed and faxed in perpetuity.
Same goes for the print/sign/scan rotation.
Occasionally an agent or party to the contract will even whip out their phone and send a photo - basically a mass of dark, looming shadows once it's finally accepted and printed to send the lawyers.
Lawyers and Brokerages often ask us to produce “clarity copies” so there is some indication of what the contract actually says.
Not only are the contracts hard to read, a huge risk when you are accepting changes in a negotiation, but you could miss a vital time deadline if you don’t get signatures submitted to the other party before a counter offer expires.
Missing that deadline could open up additional offers and suddenly you are competing! Missing that deadline could mean allowing the other party time to change their mind and cease negotiations.
One of the best tech advances in real estate is the paperless digital negotiation.
Docusign and Authentisign are two programs that have made negotiating a contract clean and legible while allowing parties to respond in a timely manner before irrevocable periods have expired.
Illegible contracts attached to clarity copies are no longer the norm; instead, everyone including lawyers, mortgage brokers, real estate agents and, most importantly, the buyer & seller can actually read what they signed!
The risk to missing deadlines in an irrevocable period should be a thing of the past as these digital signatures are easily accessed by computer, iPad and mobile phones.