Florida Agency Network performs the state’s first ever online eClosing
Long-time Florida resident, Barbara Ferrell, was experiencing the daunting and life-changing moment that so many Americans face – the selling of her home. Just this past winter, she listed for sale her condo in the oceanside community of St. Petersburg, beginning the journey of finding another owner to call it home.
To help sell her Florida property, Barbara worked with trusted agent Maria MacNeil of Century 21 Beggins, located in Madeira Beach. Soon enough an offer was made from an Illinois couple located more than 1,100 miles away who dreamed of a second home in a more tropical location. Once the offer was accepted, so began the closing process that many homeowners typically dread.
Except Barbara didn’t experience a typical closing. Unlike most real estate purchases that require printing, shipping, and signing stacks of documents - and in some cases, coordinating a visit from a mobile notary - this closing didn’t involve paper or an in-person notary at all.
Barbara sold her condo completely and entirely online.
What this marks is the first ever fully digital real estate signing in the state of Florida, thanks to Aaron Davis at Florida Agency Network (FAN), Shawn Pugh at Paramount Title, and Craig Beggins of Century 21. Together, these individuals led the way in bringing the real estate market into the modern era.
To complete this fully electronic transaction, FAN and Paramount Title leveraged Notarize for Mortgage, the industry’s first and only platform that enables the buying and selling of real estate property online, 24x7. With Notarize, Barbara was able to connect with an online notary public (in this case, our wonderful notary, Jacqueline) over video to collect the e-signatures and notarization required to legally and securely complete the transaction–all from her Surface Pro.
“This is a big deal not just for Paramount Title and Florida Agency Network, but also for the State of Florida. We are thrilled to be a part of Florida's history. Our goal is to make this an option for all our clients. Paperless, digital closings offer many advantages versus the slower, traditional paper-based system. The paperless era has arrived!” – Aaron M. Davis, CEO, Florida Agency Network
“The product was so easy to use, my notary was professional, and I had a great experience! It was a first for me, to do a closing without paper. I enjoyed being a part of it!” – Barbara Ferrell
To make online real estate signings in Florida a reality, we partnered with Westcor Land Title Insurance Company earlier this year as their Preferred Online Closing Platform, enabling online eMortgages for millions of Americans. Westcor’s lead to underwrite online closings in the Sunshine State (and in 15 additional states) has provided thousands of agents like Paramount Title with the tools to offer a better signing and notarization experience for all.
Additionally, eClosings in Florida would not be possible without the ability to support multiple witnesses, since the state requires two witnesses as part of a real estate transaction. Just this past February, Notarized launched the support for Witnesses in our platform, making it dead simple to add a witness to any online notarization.
“We are excited to have fully supported our agent, Paramount Title in completing the first ever paperless real estate transaction in Florida. By utilizing best in class technology from Notarize we were able to support remote online notarization. Westcor has led the way in underwriting remote online notarization in 16 states to support emortgage transactions and will continue to expand this program in support of our Agents." – Scott Chandler, Chief Operating Officer.
We believed that partnering with Westcor and building support for witnesses was a crucial step toward properly executing real estate documents online in the state of Florida. That is why we invested in our audit trail and compliance capabilities, enabling any agent to conduct eClosings that complies with Florida law.
The best part? It only took Barbara 30 minutes to complete the signing with Notarize, so she could get to celebrating, faster.
“For the busy person, this is going to be a fantastic product. It will save a lot of time for travel and allow anyone to close on a property from their home or office.” – Maria MacNeil, Listing Agent
This is just the beginning for the state of the Florida and our mission to enable eMortgages across the country. A big thank you to FAN, and the Florida-based title agents, brokers, and realtors who made this possible. We will continue to work together to bring eClosings to any home buyer and seller across the Sunshine State and beyond and to build the best platform on the market for everyone involved.
And congratulations to you, Barbara. You go girl.
To see how Notarize for Mortgage works, schedule a demo today.
Are you a title agent? Sign up for the Notarize Title Network.