Digital Real Estate Closings are Here- Safe, Secure and Convenient


 No more pencils,no more books, no more Title Agent's dirty looks!! The Real Estate industry in Florida has finally (well sorta) left the dark ages behind and moved into the new secure digital age. I say "sorta" because not every lender has put down their abacus and slide rule to pick up a laptop. Ginnie Mae has started a pilot program to accept electronically signed Notes, while Freddie Mac and Fannie Mae are also considering the adoption and acceptance of electronically signed closing packets and e-mortgages. The future is upon us and before too long, the digital closing or "e-closing" will be the gold standard way of conducting a real estate closing for both buyers and sellers

The American Land Title Association (ALTA) conducted a survey of more than 800 respondents in the title industry. It was discovered that 11% of the title professionals surveyed have conducted an e-closings and 19% have started making preparations by researching e-closings, applicable laws and vendors providing assistance with this new medium. 

Here at PALMA TITLE & REAL ESTATE CLOSINGS, we like to stay ahead of the curve, not only with legal acumen, but with security, technology and customer service. We have adopted a paper-less e-closing process for sellers and qualified buyers. Our e-closings provide convenience to all parties involved in the transaction while placing a large emphasis of client security through the use of our secured closing portal and third party vendors who use multiple levels of client authentication and password protected access to their services. 

ADVANTAGES OF THE E-CLOSING

The major advantage of an e-closing is obviously the convenience to all parties involved in the transaction. However the advantages go much deeper. An e-closing can be conducted quicker than a traditional closing because closing documents can be delivered quicker, signing times are shorter and thus funding times can also be improved. The security that an e-closing provides makes it easier to spot altered documents and it is safer and easier to control access to the personal information of buyer and seller.  Because data validation is automated, the chance of missing a signature here or an initial there is completely removed as a possibility. Quite possibly the best advantage of an e-closing is that it is GREEN. The process uses limited paper (if any at all) and the carbon footprint is minimized. 

Whether you are interested in an e-closing or the traditional way of doing things, we at PALMA TITLE & REAL ESTATE CLOSINGS can assist you with your closing needs. Feel free to visit us online to obtain a free title quote or call us directly to discuss your specific needs.



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