At Millennial Title, we continuously strive to advance along with the latest industry technologies. So what does the future of real estate technology look like? According to our research, it’s remote online notarization—otherwise known as RON. But why is remote online notarization on the rise and just what exactly is it? The answers lie just ahead.
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What is Remote Online Notarization (RON)?
Unlike traditional notarizations where the notary, the signer, and other essential parties must be physically present at the same place and time to notarize a document, RON is completed through an internet-based video/audio conference on a state-approved communications platform. This means that with the right tools, a document can be notarized virtually anywhere at any time, streamlining the closing process significantly. In recent years the popularity of using remote online notarization for closings has been skyrocketing, and for good reasons. Let’s look at just a few of the reasons RON is becoming the hottest tool in real estate:
Heightened Security
The notarization process is even more closely guarded when it is done remotely online. Multiple forms of ID, knowledge-based authentication, and electronic verification are utilized to protect the validity of the process and safeguard against potential fraud. Additionally, because the event is recorded and all documents are electronic, the likelihood of a verification dispute is greatly reduced.
Convenience on a Nationwide Scale
Remote online notarization allows individuals to both view documents in advance and complete the notarization process with just a few simple steps, making it extremely convenient for all parties. As long as the notary is in the same state that they are licensed, the other closing participants can be thousands of miles away and still complete the process online. With national services that span across the country—including notarization services—Millennial Title is uniquely positioned to be your ideal closing solution no matter where you are.
Optimized Operations
With remote online notarization, factoring travel time into your day isn’t an issue. Less time on the road means more time in your day to accomplish more. This is true for all parties of the transaction including the homebuyer, seller, the realtors, lenders, and other closing day participants. For example, realtors can sign onto one closing and immediately jump to another upon its completion. They can fit more closings into their day. Furthermore, when you complete a RON, all documents are digital; thus, all your documents can be found in one convenient location. With this improved workflow, your printing budget can be used somewhere else.
Millennial Title: Your Partner for Remote Online Notarization
From advanced security and nationwide convenience to improved efficiency and optimized workflow, remote online notarization makes the closing process easier for everyone involved. This exciting tool is just waiting to be used, and Millennial Title is prepared to help should you add it to your closing day toolbelt. Contact Millennial Title to ask us about how you can benefit from remote online notarization today.
