It used to be that I had to either set up meetings with my clients for document signatures, or scan and email or fax documents to my clients, hoping that they also had the ability to do the same for the return of signed documents. Using a fax machine is especially painful since each successive generation of faxed documents usually become more difficult to read. A few months ago I decided to incorporate electronic signatures into my real estate business.
I signed up for a service called DocuSign that makes it extremely easy to set up documents for secure electronic signatures. All that is required by my clients is access to a PC and an email account. All my clients are impressed with how easy it is to use. Of course, there are still some that may not have a PC available or email, but that is the rare exception.
One of the stumbling blocks of using electronic signatures has been that some banks and lenders will not accept them, particularly those providing FHA backed loans. Fortunately, due to pressure from a number of groups, FHA has now agreed to accept electronically signed documents. The official announcement is in FHA mortgagee letter 2010-14.
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Thanks for helping to spread the word about the FHA’s acceptance of eSignature!