Friday, September 11, 2015
You Were Asking: Electronic Signatures Legal?
Finally, yes. In what is supposed to be a paperless society, the real estate industry sure uses a ton of paper. When you figure, the traditional system was 6 true copies of all Agreement of Purchase and Sale contracts; we are finally trending to some natural resource conservation!
The implications of this, while, at first, appearing to be a bit frightening, make a ton of sense...
For one, the paperwork should offer a lot more clarity as with scanning and rescanning and printing and copying, and, in some cases, faxing, the end result of a lengthy negotiation will no longer be an illegible contract.
Our world has been made so much smaller by the internet and travel is a big part of our lives now, so, simply by virtue of not having to print, sign and email back and utilizing an app to sign, both buyer and seller can be virtually (haha) anywhere.
What will this do to lessen the impact of a fraudulent transaction? There are rules as there are always rules.