Here’s How You Can Close Online Without Your State Passing a RON Bill
At Notarize, we’re thrilled to see the growing support for remote online notarization across the country. By the end of 2019, we believe nearly half of all states could adopt laws that allow their notaries to provide their public service to anyone, anywhere, at any time.
But you don’t need your state legislature to pass a remote online notarization bill to start closing homes online. Lenders and title agents alone are completing closings online across the country.
How Can You Close in a State That Doesn’t Have a RON Bill
By the end of March 2019, 15 states passed bills on remote online notarization, but nearly 40 states have completed at least one fully digital remote closing.
How is this possible?
Simply put, you only need two things for an online closing to occur:
- An underwriter who will insure the transaction; and
- A county clerk that will accept the eRecordings.
When states pass laws on remote online notarization, it’s to allow notaries in those states to perform electronic notarizations themselves. In fact, we’ve helped homebuyers in Colorado, Missouri and Hawaii purchase the homes of their dreams -- all without RON bills.
For example, just this week we helped folks close on homes in Missouri and Arizona - two states with RON bills still in their state legislatures. In November, we helped complete the first southwest Florida closing with our friends at Cottrell Title, well before lawmakers introduced House Bill 409 for consideration.
These RON bills are important – and so is your support – but you don’t need to wait on lawmakers before you can move your business online.
According to the Property Records Industry Association (PRIA), though only half the counties in the country currently accept eRecordings, 85% of Americans live within the counties that do accept eRecordings.
As for underwriters, Notarize has partners in 38 states and the District of Columbia that will insure a digital closing. Among our network, we have over one thousand title agents who are actively close homes in communities across the country for homebuyers across the globe.
You can do it today. You can do it right now.
Here’s How an Online Closing Works with Notarize
Using Notarize, title agents can create a transaction in as little as 10 minutes, helping homebuyers close on their homes fully online, or as a hybrid closing.
Here’s how you start an online closing with Notarize:
- Sign in to your account, or set one up at title.notarize.com/signup/title-agency.
- Once logged in, create a transaction.
- Enter the property address of the closing, and we’ll tell you whether or not it can close online. If the county doesn’t accept e-recording, you can still complete a hybrid closing (eSign some documents ahead of closing, and notarize the rest in person).
- Enter the details of the closing, including points of contact, when the closing date is, signer information, etc.
- Add annotations of where the signer should sign, or any special instructions (we can handle this for you as well).
- Send the closing to the signer.
Cash and seller-side transactions can be completed in as little as 30-45 minutes. Along the way, title agents will receive a series of update emails: when the transaction is sent to the signer, when the notary meeting is underway, and when the notary meeting has been completed and all documents have been signed.
Once the title agent receives confirmation that the signer completed their session, the title agent will receive a notification via email and be able to access the documents from Notarize along with video of the meeting and copies of the signer ID.