Kim Mullan Blog
The Arrival of the New Millennium...Real Estate Catches Up!
Tomorrow, July 1st 2015, everything you know about the logistics of signing your real estate offers will change dramatically. For the past 300 years the Statute of Frauds (1677) has dictated the manner in which Real Estate Offers have been written. In the year 2000 Ontario's Electronic Commerce Act allowed for electronic signatures on many documents but transfers of land that required registration to protect third parties still required handwritten signatures. To date, all real estate offers had to be signed with pen/ink signatures and initials which meant meeting in person, finding a printer and scanner, racing to a business friendly big box store with fax/email services or relying on the dinosaur fax machines holding up walls in the corner of offices everywhere! Starting tomorrow secure electronic signature Apps will allow buyers and sellers to respond to time sensitive matters from their phones, ipads and computers! Away in cottage country? No problem as long as you have internet service. Printer not working? Out of Ink? No longer a problem. Some fantastic apps have been approved for this purpose. This also means that there will be no excuse to miss accepting an offer within the irrevocable period! Check out Docusign at www.docusign.com and see what the new landscape looks like!