Posted by genieSABRE on Sep 3, 2011
You’ve got mail ! Home Buyers & Home Sellers BEWARE When Choosing Your Agent

You’ve got mail ! Home Buyers & Home Sellers BEWARE When Choosing Your Agent

Electronic Signatures

Source: Hannif Highclass
Publish:My Blog:  09/01/2011

An electronic signature is any electronic means that indicates either that a person adopts the contents of an electronic message.  In June 2000, the U.S. government passed the E-sign bill, which gives electronic signatures the same legality as handwritten ones. In Canada e-signatures fall under the Personal Information Protection and Electronic Documents Act – S.C. 2000, c. 5 (Section 48).

Sending documents by email and through the internet is becoming increasingly common in business including real estate.

Mike Douglas (Realtor from Barrie) and the chair of the OREA electronic signatures task force had this to say:
“Transmitting documents electronically is happening more often in most businesses, and many real estate professionals use the technology on a daily basis
A new standard clause was developed by the Ontario Real Estate Association to enhance the convenience and efficiency of sending scanned notices and documents by email. This new clause can be inserted into the Agreement of Purchase & Sale to indicate that the parties involved in real estate transaction agree to send and receive documents via email and to use a specified email address”

Electronic E-signatures should be used with caution. Unfortunately, ONLY and I repeat ONLY a few Real Estate Agents in Toronto are fully prepared and geared for using the software that provides FULL PROTECTION. i.e having an acceptable modes of communicating offers, counter offers, acceptances and notices. This is very important especially if a document is time-sensitive. Documents received by ( Home Buyer & Home Seller)  must be checked to see that the e-signatures are within the deadlines set in the agreement.

As mentioned above, a majority of real estate agents just use the regular email and or fax to send and receive the documents. Which is prone to cause problems.

   genieSABRE uses

genieSABRE uses a custom made state of art software that meets ALL the requirements under Personal Information Protection and Electronic Documents Act. Most importantly

  • (a) is unique to the person making the signature;
  • (b) the technology or process used to make the signature is under the sole control of the person making the signature;
  • (c) the technology or process can be used to identify the person using the technology or process; and
  • (d) the electronic signature can be linked with an electronic document in such a way that it can be used to determine whether the electronic document has been changed since the electronic signature was incorporated in, attached to or associated with the electronic document.

ShantaeDance2WATCH BELOW INTERESTING VIDEO AS TO HOW
genieSABRE e-signature works !

REMEMBER:

Real estate investment should be your 1st. priority. If you own your own home = Good for you. But now is the time to take that second step – RENTAL PROPERTY INVESTMENT. However, if you are renting – talk to us and we will advice and guide you all the way into your home ownership.

Little or no money down – YES we do it. Checkout our 50% Commission Cash Rebate Program!
Call:

Hannif Highclass @ 416.444.4252

Free advice on who to invest in real estate. What & which type of properties to buy. Financing options and more.

Take that 1st step and pick up that phone – Call !

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YOUR COMMENT NEEDED BELOW!

Do you think, that e-Signatures will become a standard way, we all will be signing documents in the future? Marriage Docs, Drivers license, Insurances etc.

 

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