Q: Marsha, I’m currently in a contract to purchase a home in Santa Barbara. The good news is all the paperwork is being signed electronically. The bad news is there is so much of it! Just when I think I’ve signed everything I possibly could, my agent emails me another stack of documents. Why all this overkill for signatures?
A: In today’s real estate world, files for one transaction are at least two inches thick and often larger. According to the Statute of Frauds, real estate contracts must be in writing. Contracts must identify the property, state the terms of the agreement, and be signed by both parties. The large files are primarily disclosures. Unfortunately, they are necessary and vital in today’s litigious world. They protect the principals, the agents, and the brokerages.
However, “What is a signature?” is the real question in today’s world.