Electronic
Solutions

Recent federal government regulations that give electronic documents (and electronic signatures and notarizations) the same legal standing as paper documents have made electronic settlements possible.

Everyone involved in a real estate transactions — buyer, seller, agent, lender, settlement company — benefits from the time and cost efficiencies of documents tat are electronically prepared and transmitted in seconds, rather than printed (or filled out by hand or typewriter), copied and physically distributed.

Progressive lenders have recognized the inefficiency of using paper-based processes that have been in place for over 50 years, and are beginning to embrace paperless settlements.

eSettlement Solutions can convert any paper, scanned, or electronic (e.g., PDF) document to an electronic document with electronic signatures, and for those which require notaries, with electronic notaries, using technology that we and our partners have developed.

Our online technology allows all parties to the transaction to share documents, as well as to collaborate and communicate electronically. The system is designed to allow the borrower, seller, lender, broker, investor, and realtor to all share an electronic, password-protected, secure folder containing contractual documents, loan documents, closing documents, and all other documents related to the transaction. Access to this online collaborative file allows all parties to view, manage and deliver documents at any time, including:

• Listing Agreement
• Buyer-Broker Agreement
• Purchase and Sale agreement
• Loan Application
• Disclosure Documents
• Underwriting Conditions
• Appraisal Report
• Credit Report
• Title Insurance Commitment

Everyone can also check the status of a document — "Has this been signed?" "Has this been processed?" "Has this been prepared?" — at any time.

One of the greatest services we can provide is our ability to create a secure site prior to closing that provides the borrower (and all other parties involved in the transaction) the ability to view their documents in the comfort of their home before closing. This allows the parties to check for errors, ask questions, and resolve issues prior to closing.

By buyers and sellers accessing documents on line they can often electronically sign most documents prior to closing at a time and place convenient to them. The actual closing can be completed in as little as 15-20 minutes.

The results:

• Faster, more efficient real estate transactions with drastically reduced contract to closing times
• A more convenient closing process for buyers and sellers
• Improved communication between all parties
• Fewer documents to review and sign at closing
• Receipt of a copy of an entire closing package on a CD
• Less paper related costs such as copies, couriers, FedEx, etc.