Electronic signing is secure and allows documents to be signed during someone’s busy day without making a trip to the office. Signatures can be completed on a smart phone, iPad, or PC, so buyers and sellers can be on a trip or at work and still accomplish the major tasks involved in the transaction.
Another benefit of online transactions is that all parties in the transaction have more time to review the required documents. If errors are found, they can be corrected early. Errors like misspelled names can stop a face-to-face closing and add additional expenses for revising documents, rushing delivery on new documents, and taking time off to meet for signing. With paperless transactions, revisions are made quickly and the transaction can proceed.
First, every signature is certified and verified to include a unique signature ID, time and date, information about the signer, IP address from the signer’s location and more.
Second, every change made in is logged and tracked at the field and document level. This information can be retrieved in a number of ways from within the e-sign application.
Third, THE QUANDT TEAM uses a program called DOTLOOP which enables real-time collaboration, which is actually more secure than any standard PDFsigning solution by managing every version of the real estate transaction in one place. dotloop has even patented this process in real estate (US Patent # US8375016 B2).
Lastly, since dotloop’s eSignatures are securely embedded into the document itself, every signed document exported from dotloop includes a link in the footer for the purpose of verification and fraud prevention. This ensures that if anyone attempts to fraudulently alter a document after it’s been exported from dotloop, we have a record of the most current version.