Technology is changing the ways we buy and sell homes. One of the new tech solutions for real estate is remote ink notarization closing. This process allows buyers to close on a home when they can’t meet a notary in person.
While RIN can be beneficial for a variety of circumstances, most buyers are unfamiliar with the process. They wonder how it works and what they may need. This post will tell you about RIN and how it works.
Arranging for an in-person notarization is not always possible. So, if you need to close on a property, some form of remote notarization could be a solution. While remote online notarization happens entirely online, RIN is an alternative that still involves putting ink to paper.
The buyer meets with a notary using an online video conferencing platform with a remote ink notarization. The notary will verify the buyer’s identity and witness as they review and sign the documents. The buyer then takes the documents and sends them to the notary for application of their seal.
Laws concerning RIN and RON can vary depending on the state and details of the transaction. This section will cover the basic steps of remote ink notarizations.
1. The buyer receives the physical documents. If sent by email, the buyer will need to print them.
2. Once the documents are ready, the buyer can schedule a video appointment with the remote notary. The buyer and notary should agree to a video conference platform.
3. The notary will need to verify the buyer’s identity at the beginning of the session. This could involve sending an image of a government-issued ID to the notary. The buyer will also need to show the ID to the notary using the video conferencing software. A photocopy of the ID may also need to be sent with the documents.
4. After ID verification, the notary can witness the buyer signing the documents with ink.
5. The buyer can then send the documents to the notary.
6. With the documents, the notary can apply their seal. The notary can then send the documents back to the title company.
Options like RIN and RON can significantly ease the process of closing real estate deals. However, they are not always the best option. Furthermore, they might not be legally viable for some transactions.
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