Your "X" marks the spot with a digital signature. By Greg Perry, Kirkland Realtor Kirkland real estate
Just like in the old west, we can now sign our contracts with our "mark". Yes, a new era has arrived. We're now using "digital signatures".
At our office meeting last week, we had a representative from DocuSign present electronic contract services. Digital signatures and electronic contracts are completely legal. It was explained to us that they are currently being used most in California, Texas and Florida. Here are some quick facts about DocuSign:
- #1 On Demand Electronic Signature Service.
- Over 1 million signature events in 2006.
- 100% legal compliance with United States E-SIGN legislation.
- Founded in 2003.
- Hold multiple patents.
- Millions invested in infrastructure and R&D.
- Headquartered in Seattle, Washington.
Locally, DocuSign is being used within Windermere in some test offices. All tests so far are positive. It seems all legal challenges have been met, and electronic contracts will be a fixture in the real estate transaction, just like the fax, which we now take completely for granted. It is hard to even contemplate a real estate transaction with fax capabilities.
The digital signatures are completely encrypted and unique. Electronic contracts seem to have have better transaction "tracking" capabilities, as there is a complete record of all signings by all parties. Out of town Buyers or Sellers will find electronic contracts particularly convenient.
I have not used the service yet. I am currently working with a relo client from San Francisco. As we get DocuSign up and running, I'll let you know what happens!
Greg Perry, Kirkland Realtor gregperry@working-for-you.com
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