For real estate transactions, I don't think it will be the cost of overnight delivery from the signing location to the title company that will be the deciding factor. I think it will be the efficiency of integrating the signature process into their system. (Of course, some of the title companies have more of a "system" than others; if they don't have a well-thought-out system that they consistently follow, esigning will probably make it worse, not better).
But if they do have a good system, just think of all the time saving on their end. No need to flip through the documents to see if the signers crossed something out, or added some words; they can't. No need to see if all the spots that need a signature were signed; they can't finish the signing until everything is signed. No need to check if the dates were added correctly and legible; that's automatic. (OK, maybe they'll have to check if the computer got the time zone right.) No need to count the pages to see if any pages got lost; they're all in one computer package. No need to have phone conversations with notaries who are wondering what password to use on the scan of the docs; the whole signing occurs on a secure platform.
Of course, the integration is more complete if they can e-notarize as well as e-sign; otherwise the notarized documents have to be wet-signed and all the usual inspections have to be done when the package arrives back at title. |
