DocuSign Electronic Signatures - Short Sale Purchase offer and other lender documents.
I was processing a short sale listing in Pacifica CA. Finitely the short sale has approved and closed last October 2012. What was the challenge? The challenge was to get signatures from the seller within 24 to 48 hours. The right news was that the short sale lender (Bank of America) had accepted Electronic Signatures. I was very happy to find out from my negotiator that Bank of America had accepted short sale document using electronic signatures (Docusign).
Using Docusign has saved us time and money. The homeowner and I have worked on the short sale it since the beginning of April 2012. A while ago Bank of America offered my client to short sale her home in Pacifica CA. She was select to take part in a short sale cooperative without an offer at the same time the homeowner had received a job opportunity in the East Coast. She was accepting the job and moves to East Coast.
Dealing with getting the paperwork signed was tough. We had a different time zone, and it was very difficult to connect real-time because the seller was busy with work or traveling. When she was at home it was the same because she did not have a fax or printer at home, as everyone knows Printing, Faxing and scanning can be very expensive plus having to go to their place.
I was thinking, when are the big short sale lender are going to start using DocuSign? It could be a great solution to both of us. Like any typical short sale, we lost the first offer. The buyer walked away, and we have to start all over again. I tried to speed up the process I decided to ask my negotiator if Bank of America by any chase was accepting electronic signature (Docusign)soon others banks will be welling to adopte it too, she said they have not rejected them recently, so send it to me. I did and in fact, Bank of America accepted the documents. I am very happy because using DocuSign electronic signature has saved my client and me a lot of time and headaches.