Why Should You Sign Your New Land Contract Electronically?
GovernmentAuction.com knows that the contract can be one of the most daunting parts of any property purchase especially, when the two parties involved are completing the transaction long distance. This is one of several reasons we moved to electronic contracts and signatures.
Some of the benefits of signing your land purchase contract online:
- Instant! Once the land auction is completed and the winning bidder has been announced we begin working the contract. Once the contract is completed we will now email the winner a notice to sign online. No more waiting for Snail Mail!
- Green! No more printing out multiple pages for the winner to sign and send back to GovernmentAuction.com.
- Timesaver! No need to wait for the mail, no need to go to the mail box, your contract doesn’t get lost in the shuffle any more. You can now complete your purchase in a matter of days instead of weeks!
- Cost saver! No need for stamps, UPS, Fed-ex, or other mail services. You sign on to a secure site and all you need is a username and password, electronically sign your documents, send them back, and you’re done.
Some frequent questions we have received regarding electronic signatures:
- What is an electronic signature? An electronic signature is an paperless means to enter into a contract. This is any legally recognized method such as an electronic symbol, sound, or a process associated with a contract. It may also any agreements made through email, facsimile, or by entering your personal identification number into an ATM.
- Are electronic and digital signatures legally binding? Electronic and digital signatures are just as binding and legal as the traditional handwritten pen signatures as long as they are executed through a process that establishes clear intent to sign and maintains all legal elements. In 2000 the Electronic Signatures in Global and National Commerce Act of 2000 (ESIGN) and the Uniform Transactions Act (UETA) was established and has been adopted in most stated. GovernmentAuction.com has contracted with DocuSign to ensure that this process is compliant and backed by a comprehensive audit trail.
- Is e-Signing really as simple as it sounds? The short answer is, yes. GovernmentAuction.com wants this process to be as simple for you as possible. You will be asked to create an account if you don’t already have a DocuSign account and to enter your first name, last name, and initials. Once you have entered your personal information your will be asked to choose a signature. Once you have chosen your signature the document will instruct you on the places you either need to sign, initial, or select in order to move forward, once completed DocuSign will store the contract securely and notify us.
- How are the contracts stored? GovermentAuction.com uses the secure DocuSign cloud-based hosted service to archive all the records. This helps us maintain all requirements to remain compliant with document retention policies and it increases document security.
- Will I receive a copy of my executed contract for my records? Yes, Government will provide you a copy of your executed contract in two ways. Once the contract has been completed we will email you the final copy in PDF form for your records. We will also send you a copy via USPS that you should receive within 7-10 business days.