By Bob Gordon, Berkshire Hathaway Boulder Realtor
Docusign is one of the newest and coolest things to occur in the real estate world. Electronic signatures are widely accepted and allow folks to sign contracts from computers and mobile phones. The technology has been around for a few years and is gaining a lot of traction in the real estate world.
How Electronic Signatures work
Realtors upload documents to docusign and then docusign sends a secure email to the client. The client adopts an electronic signature and authorizes or refuses to sign. Multiple parties can be signing the same document in different locations and from different devices (mobile, laptop, internet, wifi) simultaneously. As each party signs, participants have the option to print and/or save a copy of the executed contract.
DORA and Banks and Docusign
The Colorado Department of Regulatory Agencies recognizes electronic signatures and they are wide use in real estate transactions. Still, not everyone accepts this type of signature. Banks involved in short sales and foreclosures generally will not accept electronic signatures, so don’t get rid of that fax machine yet.
My personal experience with Docusign
The other day, during a blizzard, I was able to walk one of my clients (in her late seventies) through the process of using her son’s Smart phone to sign onto her email (1st time she ever did that) and access a docusign document. We then were able to get her signature and initials in several places and return the counter offer in a timely manner, all while a foot of snow piled up in Colorado and driving was unadvised. My client thought it was pretty cool and the buyers were excited to get a counter so quickly.
Have more questions about Docusign? Give me a call, I’m here to help with your real estate needs.