Embracing technology is all about helping you get more done, with less effort. At least, that’s the idea. (But seriously, somebody should tell my inbox)
Well here’s a tasty bit of technology I recently uncovered that absolutely fits the bill, and stands to make a sometimes clunky cog in your real estate investing wheel a whole lot easier.
Did you know that we can now legally notarize documents online?
Not only that, but it’s reasonably priced and accepted in all 50 states. Ha, who knew?!?
How I Learned This
I uncovered this recently when I found myself pulling my hair out with an important real estate closing that nearly fell apart entirely – thanks in large part to an out of state seller (in a multi-heir situation) who apparently couldn't locate a stinking notary within 200 miles to get the closing docs signed.
In the end we were able to coax her to make the drive for the sake the $34,000 she had coming to her. But truth be told, things were hairy for a bit and it would have royally bitten to have lost the deal simply because she couldn't get to a notary to get the dang docs signed.
I shared this with a friend of mine, who then opened my eyes to the wonderful, new world of online notarization.
E-signing vs. E-notarizing
You've probably heard of E-signing (electronic signing) before – not a terribly new technology really. If you file an electronic tax return, apply for a credit card or perform certain other transactions online, then you've done this before. It’s nothing more than having the ability to sign a document with a template copy of your signature (or an electronic equivalent swearing that you agree to the terms of the document you’re signing).
On the other hand, E-Notarization is a completely different animal. As you know, some documents (like, say, deeds and mortgages) require notarization as an extra layer of proof that the person signing them is the person named in the document.
Until now, the only way to get this done is to take a trip down to your trusty Notary Public’s office, deal with traffic, lines, etc., in exchange for the hassle of paying a fee for a service that only takes a few minutes of your time. Or maybe pay extra to have a traveling notary come to you. Not any more.
How Online Notarizing Works
Apparently as of July 1, 2012, Virginia is the first state to actually authorize a signer to be in a remote location and have a document notarized electronically by an e-notary. They do it using audio-visual conference technology.
“Well that’s great. But I don’t live in Virginia. So big whoop” you say.
Aha! While it’s true that most states don’t yet have a specific allowance for online notarization, out of state notarizations are valid and must be accepted in all 50 states. This has actually been the case for hundreds of years, and has been tested in courts.
So what Sign Now does is offer you the ability to get your documents notarized online remotely from Virginia, which then must be legally recognized in all 50 states. Kapow!
How to Do It
It’s quick, easy and cheap. The entire process takes only minutes, costs only $14.95 and comes with a money back guarantee (totally unnecessary, but makes a great point).
Alls you do is pay your fifteen bucks online, then you’ll be connected with a live notary who will verify your identity, ask you a few simple questions, them – voila! Done deal! It really is that simple.
And according to Sign Now, Deron Williams of the NBA recently signed his $98M contract with the Brooklyn Nets using their iPad app. Pretty nifty, eh?
So take note of this – I’m sure it’ll come in handy the next time an online notary would make your real estate closing a little easier.
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JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.