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Tag: remote signing

  • Online Real Estate and Mortgage Closings

    Online Real Estate and Mortgage Closings

    We created Deeded to bring simplicity and accessibility to one of life’s most important transactions.

    Our vision is to bring the entire closing process online, making it transparent, convenient and human.  It is something we felt strongly was needed to meet the demands of the modern consumer and compliment the ongoing digitization of the Real Estate transaction.

    Little did we know that shortly after launching, our vision would quickly become the reality by which online Real Estate closings are the norm.   The crisis caused by COVID-19 has sent the entire industry into a tailspin where new practices had to be adopted literally overnight in order to accommodate a new reality.

    In the past two weeks we’ve seen regulations change, significant support from the title insurers and a resilient industry come together and innovate in order to get current and future transactions closed.

    This is where our technology, streamlined processes, and team shine.  Preparation always meets opportunity.  We were built for a digital age.  We’ve invested in a future that turned out to be now.  It’s why we feel so prepared to serve you during these difficult times and beyond.  

    Deeded offers fully online real estate closings, making purchases, sales and refinances smooth and seamless.  

    There Are 4 Easy Steps To Get Your Deal Closed By Deeded.  

    Upload Documents

    Securely upload required documents and complete a brief online intake and ID verification process.   The entire process takes under 10 minutes.

    Attend a Video Signing

    We’ll schedule a video signing meeting at a convenient time for you (including evenings and weekends).   All you need is a computer with a webcam, an internet connection and a smartphone.   There’s no printing, scanning or couriers required.  

    Electronic Funds Transfer

    On a purchase we will ask that you direct deposit the funds into our account. On a sale we will wire the funds into your account after closing.

    Keys at the Property

    On a purchase we’ll arrange for your sellers to leave the keys in a lockbox at the property. On a sale, simply leave your keys in a lockbox at the property.

    Our Deeded Team is ready to help you get started, to obtain a quote, please click here.

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  • How Do Video Closings for Real Estate and Mortgages Work?

    How Do Video Closings for Real Estate and Mortgages Work?

    Virtual video closings keep mortgages and Real Estate transactions flowing during the COVID-19 pandemic.

    As the coronavirus (COVID-19) continues to spread, it has become challenging to close a real estate transaction, especially for those thousands of buyers and sellers who are planning to close their transactions over the next few weeks or even months.

    Why Do We Need video Closings for Real Estate and Mortgages?

    The closing process requires documents to be signed and commissioned in front of a lawyer or a commissioner of oaths, which presents an issue when people are quarantined, stuck abroad due to travel restrictions, or simply cannot travel to the lawyer’s office due to quarantine or closure of the office.

    As of March 16, 2020, the Law Society of Ontario has issued a special bulletin to allow remote commissioning of documents as a special measure to deal with the disruption caused by COVID-19.  In addition, title insurers and some lenders have indicated flexibility given the situation.

    Deeded has invested in virtual signing technology that allows clients to securely sign their documents from the comfort of their home.  All they need is a computer, an internet connection, and a smart phone.   There’s no need to print, courier or scan documents.

    This technology allows us to securely present documents, have them signed and witnesses in real-time, and record the entire interaction for security purposes.

    How Do Virtual Signings Work?

    Step 1 – Scheduling The Signing Appointment

    Clients will receive a calendar meeting invite with a link.   The session takes place live and can be scheduled at a convenient time.   All individuals who are signing need to attend, but they do not have to be at the same location. 

    Step 2 – The Virtual Signing

    All parties will be able to see each other on a live video stream.  The lawyer will explain the entire process and will ask each signer to identify themselves and show photo ID.  Clients will

    Each document to be signed is presented on the screen, explained, and is signed on the screen by each party.  If the client does not have a touch-screen device, a SMS or email can be sent to their mobile device and they can sign on the surface of their mobile device using their finger or stylus.

    The lawyer or commissioner will also sign where applicable.

    Step 3 – Security Protocols

    Throughout the meeting, the audio and video of the conference is recorded along with the documents being signed.  A secure audit log is used to confirm items such as the signer’s location and identification.   The video is stored on servers offering bank-grade security.

    Step 4 – Final Documents Distributed

    As soon as the meeting is complete and parties sign off, the final electronic version of all signed documents is distributed securely for everyone’s records.  

    Preparing for Your Virtual Signing Appointment

    Make sure you have your laptop, tablet and mobile phone ready and that you have a high-speed internet connection.

    Have all signing parties bring picture ID to the Virtual Signing appointment

    Ensure all parties signing have the calendar invite and meeting link

    Log into the Virtual Signing session on the scheduled time

    Ensure only those parties who are signing are in the room, or if there is someone else in the room, that person’s identity would be noted, and possibly they would be asked to leave the room

    If you are interested in using a video closing on your next real estate closing or mortgage transaction, our Deeded Team is ready to help you get started, to obtain a quote, please click here. 

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