eSignature Lawfulness for Real Estate in United States

How to eSign a document: e-signature lawfulness for Real Estate in United States

hi everyone my name is jesse with the royalty city i am a local listing broker for hud uh within uh polk county florida uh the reason for this video is to create a tutorial for buyer agents uh for the uh east signature process for all hud contracts uh so before we begin the tutorial uh sage acquisitions is the asset management company that manages these hud homes from the initial process all the way to the closing so let's begin with the introduction of the signatures on all other contracts a couple tips to go over when an agent places a bid on the hud home store additional information is required that was not previously requested within the bid submitted make sure all the information is accurate to avoid delays read all the instructions and follow up timely with all the emails received by sage from the hud home store especially when you receive an email from sage acquisitions make sure you meet their deadlines and follow their instructions so there won't be any delays with the eSignature process the agent placing the bid must also make sure that the eSignature signer information is accurate for who will sign for them as the broker the eSignature signer information has been populated from the principal broker information supplied within the home store website if there is another designated designer of the sales package please update the information within the screen a couple tips on bedding and hot homes with eSignatures adding the buyer select closing company this is the title company that the buyer has selected to do the closing for the transaction as you type in the buyer selected closing company name a drop down menu list of closing companies already established with a title id will appear as you type in the information closing companies with an established title id if the closing company name and location they want to use is listed go ahead and choose it from the drop down menu choosing the drop down will auto populate the other corresponding information that hud has on file for that closing title company so what happens when the closing company is not listed in the drop down menu if the company location is not listed continue typing and complete the fields with the company information and save the the task closing companies without an established title id the eSignature process cannot be used at this time if the closing company does not have an established title id hud must first obtain and verify the information necessary to create a title id for the title company the bid can and should still be submitted using a paper contract as before electronic signatures are allowed when submitting a paper contract make sure you're submitting a paper contract that the contract to sell complete sales contract is sent in by express mail to sage on or before their required deadline to avoid any uh cancellations or of the contract from sage so the next step in the bid acceptance of the uh process you will receive at this point once the beta acceptance emails come in the first email you're going to receive is the selling broker bid acceptance notice this is going to be stating that the property has been awarded to your clients uh the second email that you will receive from from sage will be the bid acceptance final verification email make sure anytime you receive an email from sage you open it and read it and follow other instructions to avoid any delays or to avoid any cancellations of the contract upon the receipt of the beta acceptance final verification email the agent who placed the bed on the hot home store should log back into their accounts and review edit verify all information submitted at this time they must also upload a copy of the earnest money check or as we call it in florida the escrow check that they have delivered or will deliver to the listing broker's office before the asset manager can take the next step so before sage continues on with the eSignature process the listing brokers must receive the the original certified check after delivering the buyers loan letter or proof of funds this is the next step in the process so the actual certified funds the earnest money deposit check or the escrow check must be made payable to the buyer's closing agent company chosen must still be delivered to the listing a broker's office within two days of the bid being awarded along with the earnest money the buyer's agent needs to provide to the listing book or a copy of the buyer's loan letter or proof of funds letter uh please note that the loan law the proof of funds or the loan pre-approval letter must be reset it must be dated within 30 days if it's not if it's that reason within the last 30 days sage is going to make a request and will not sign the contract until a uh updated proof of proof of funds or peer approval letter is provided that is dated within the 30 days without the listing broker confirming receipts of a valid earnest money check or escrow money check and without the loan letter or proof of funds letter sage acquisitions cannot generate the each signature envelope so until sage receives the requirements they will not send the link for the e-symmetry process within the eSignature envelope reviewing the contract package once sage acquisitions is able to generate the eSignature envelope the agent who placed the bid on the hud-home store will receive an email to review the contract package before signatures are requested please note that the email that's going to be being sent by sage will be the email here on the screen it will come from dse at .net so make sure you go into that email the agent will not sign anything at this time they are reviewing the package for accuracy so at this point you're only going into the email to make sure that the buyer's names are spelled correctly and then we have the correct buyer's email address so that we could go ahead and proceed with the eSignature process so approving the contract package for signatures once they click on the finish and confirm that the package is ready for senators emails are sent to the parties needing to sign in the following order so once you hit finish as the buyer's agent um the eSignature process will generate the link for the eSignatures and the first person to receive the signature link is going to be the broker the buyer's broker once the buyer's broker signs it then the link will go directly to the buyers for signatures after the buyers have uh signed the uh the link it will go to the buyers uh closing company the title company will then sign it once they finish signing the link the final step in the process would be sage acquisitions guess the link and they execute the contract so here on the screen you'll see the um the email that you will receive from sage with the agent final bid verification information uh it'll include the hud case number the day the bill was accepted and all the instructions there that are needed to be followed so that we could go ahead and process the uh the executed contract and proceed with the transaction so the next step in the account is the contract execution of the uh of the contract once sage acquisition has signed the contract and executed the file all parties who signed the package will receive another email with a copy of the fully executed contract if anytime you need information or need additional assistance from sage uh make sure you contact the atlanta office which uh all florida hot homes are covered by um if you want to send an email send the email to the email listed here on the screen atlanta.customer service sage precisions.com if you need to reach them by phone their phone number is 877-369-9018 or if you need to send the paper contract the complete sales contract to sage by mail by express mail make sure you send it to 1850 parkway place suite 500 in marietta georgia with the zip code 30067 if you have any other additional information or need any additional help feel free to contact me um at any time my email address is realtycityinc gmail.com again that's realtycityinc gmail.com or you can call my office at 863-438-6605 again it's 863-438-6605 thank you again and have a wonderful day