Electronic Signatures now allowed on most documents used in Preapproved Short Sale Process
Many Arizona short sale realtors get frustrated when trying to initiate a short sale with lenders and servicers who don’t accept “E-Signatures” (electronic signatures), a popular way of gathering verified signatures the last few years. It saves on time, gas, energy, missed signatures, and in general allows all parties an ease never known before such an innovation. But, some lenders were still weary of the technology and still required “live” signatures.
Bank of America has finally turned a page to allow E-Signatures on some docs, thank goodness!
When you start a Bank of America short sale without and offer, and your Arizona short sale realtor submits it for HAFA or a Bank of America Cooperative Short Sale, here are the documents they not longer need “live” signatures on.
• Approval Letter
• (ALA) Arm’s-Length Transaction
• Bank of America E-Transaction Consent Disclosure Form
• Bank of America Third-Party Authorization
• Borrower Acknowledgment Interest (BAI)
• Dodd-Frank Certification
• Multiple Listing Service (MLS) Agreement
• Preliminary HUD-1 Settlement Statement
• Purchase Contract & Addendums
• Request for Approval of Short Sale (RASS)
• Request for Modification and Affidavit (RMA)
• Short Sale Addendum
• Short Sale Agreement
• Short Sale Marketing Extension Agreement
For FHA, USDA, VA and traditional short sales (initiated with an offer), contact your Arizona short sale specialist to see if e-signatures are allowed.
NOTE: Any and all closing documents and final documents to close (your short sale) DO require “live” signatures.
This content was originally posted by Tracy “Royce of Real Estate” on www.RoyceOfRealEstate.com/blog
Tracy is an Arizona Short Sale Realtor, Investor, Rehabber and Foreclosure Expert. She is also an avid blogger, vlogger, and consultant on all things Arizona Foreclosures.