July 6, 2015
Durham Region Association of REALTORS® (DRAR) is proud to announce that electronic signatures can now be used by REALTORS® and consumers on real estate agreements of purchase and sale.
Prior to this change to the Electronic Commerce Act (ECA), documents that create or transfer interests in land required hard-copy signatures. This meant that faxing, scanning and emailing agreements of purchase and sales would sometimes result in an agreement that was difficult to read. Now, agreements can be filled out on a computer or tablet and the document changes can be tracked efficiently. "REALTORS® and consumers alike will have the opportunity to enjoy the convenience and ease of sending the documents to each signer, thereby creating a quicker response time and a less stressful transaction” added DRAR President, Sandra O’Donohue.
“The use of electronic signatures is voluntary and the parties to the agreement have to agree to their use. Many will prefer using electronic signatures while others are more comfortable with the use of traditional (wet) signatures” commented O’Donohue.
Ontario follows six other provinces in allowing electronic signatures for real estate transactions; British Columbia, Quebec, New Brunswick, Manitoba, Newfoundland and Labrador and Prince Edward Island. “We are very pleased with this recent change to the act, it is great news for both the REALTORS® as well as consumers” commented O’Donohue.
Durham REALTORS®, We Work Where You Live. To contact a local Durham Association REALTOR® or to search for a weekend open house or listings in your neighbourhood, please visit www.DurhamRealEstate.org
(905) 723-8184
(905) 723-7531
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