Online Notarizations: Efficient way to close real estate deals
by: Kristen Crescenti, Associate | July 24, 2020
This year, the State of Florida approved a law allowing Florida notaries to perform remote online notarizations. With the global pandemic stifling many legal processes including, closing in-bank services and real estate offices, the state’s timing may seem clairvoyant. The new law helps to eliminate many of the current difficulties closing real estate transactions, as well as notarizing other legally binding documents.
Not only is efficient technology being integrated into this important step in the transaction process, but online notarization will create a safe environment to close on the sale, purchase or refinancing of a home or mortgage remotely without the risks currently associated with meeting in person.
How It Works
Documents are uploaded to an approved online platform, and then the trained and registered Florida notary and the signer video chat to complete the notarization with electronic signatures. Once properly completed, the online process is the same as an in-person notarization, saving time and keeping everyone safe. Keep in mind, if there is a lender involved in the transaction, the lender must provide prior approval. Also, there is a small fee associated with this convenience, which should be identified on the settlement statement.
Bitman O’Brien & Morat has counselors with broad knowledge and experience who can assist you in navigating the complexities of real estate transactions and residential closings. Bitman O”Brien & Morat also has expertise in employment, contracts/corporation, personal bankruptcy, partnership disputes and small business issues. Please contact us at 407.815.3110 or visit bitman-law.com.