I just read an email from my e-sign service (EchoSign) informing me of the great news! I will just give 3 reasons rapid fire off the top of my head why this is a HUGE move towards a better tomorrow in FHA related real estate transactions:
1. LESS PAPER!
2. EFFICIENCY!
3. CONVENIENCE!
Here is the post on the EchoSign blog about FHA/HUD allowing electronic signatures and showing a copy of the letter from the US Department of Housing and Urban Development. (FYI, I am not related to the Assistant Secretary for Housing, David H. Stevens.)
What this means to YOU as an FHA homebuyer
You will now be able to sign contracts ON YOUR SCHEDULE, DO AWAY WITH EXCESSIVE PAPERWORK and have FASTER RESPONSE TIMES. Contract signing will be done through email with the click of a button and stored securely on the e-signature service’s server, as well as copies emailed to you in pdf form once signed and filed. The process in real time, about 5 minutes (unless you haven’t had time prior to signing to read the contract).
In other words, you will be signing contracts more efficiently and conveniently, while “going green” at the same time. Of course, your Realtor has to be a part of one of these services. If I were home shopping, I would make this a requirement of my Realtor.
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