Electronic signatures for real estate transactions have arrived!
Changes to the Electronic Commerce Act which went into effect on July 1st now permit electronic signatures on Ontario real estate documents. E-signatures will cut down transaction time thereby making the whole process more efficient. Currently, agreements of purchase and sale are often faxed, scanned and emailed numerous times over the course of a transaction. The process can be cumbersome and by the time the final version is signed, the agreement can be difficult to read. The new technology allows agreements to be filled out on a computer or table, changes can be tracked and documents can be transmitted with ease. The technology used to support electronic agreements of purchase and sale is very secure, offering peace of mind to consumers. All in all, a very positive development!
Changes to the Electronic Commerce Act which went into effect on July 1st now permit electronic signatures on Ontario real estate documents. E-signatures will cut down transaction time thereby making the whole process more efficient. Currently, agreements of purchase and sale are often faxed, scanned and emailed numerous times over the course of a transaction. The process can be cumbersome and by the time the final version is signed, the agreement can be difficult to read. The new technology allows agreements to be filled out on a computer or table, changes can be tracked and documents can be transmitted with ease. The technology used to support electronic agreements of purchase and sale is very secure, offering peace of mind to consumers. All in all, a very positive development!
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