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Can eClosings Take The Stress Out Of Real Estate Transactions?

One of the most dreaded parts of any real estate purchase is the closing process. The homebuyer is forced to go through a stack of documents, delivering a seemingly endless series of signatures for the mortgage lender. However, according to an article from law.com, there is another way: eClosings.

What Is An eClosing?

Simply put, an eClosing is when all of the closing documents are signed and delivered electronically, without the need for stacks of paperwork. eClosings are conducted in a secure electronic environment. They may actually provide more protection and privacy for all parties than the traditional method, and there is less risk of documents getting lost in the shuffle. As an added benefit, the eClosing process is more environmentally friendly. Just think of the paper saved.

The eClosing Process Is Already In Place

The technology is here to conduct eClosings. Every state in the country has a statute or law regarding eSignatures. However, there are still legalities to address that stand as barriers to the adoption of a completely paperless closing process, particularly in the realm of notarization. Because of this, there are many variations of hybrid versions of eClosings. These are closings in which a portion of the paperwork is handled electronically, while some of it still must be signed physically.

You Can Always Benefit From A Guide And Advocate

The reality is that the stress of a closing does not come from the act of signing, but from all of the small print on the documents themselves. Regardless of whether closing paperwork is handled electronically or physically, you can always benefit from having an experienced attorney who can review it and make certain it says what it needs to say, someone who can make certain your interests are protected.

A trusted attorney can guide you through all phases of a real estate transaction, looking for every opportunity to make it more efficient and to help you achieve your goal of home ownership as soon as possible.

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