During one of Millennial Title’s Title Tip Tuesday posts on social media, Tampa Bay Chief Operating Officer, Christina Moloney, sat down to discuss remote online notarization—otherwise known as RON. “We do a lot of research into the future of different technology and everything that we are seeing indicates that online notarization is not going away, and it will be more prevalent in the future,” says Christina. But why is remote online notarization on the rise and just what exactly is it? The answers lie just ahead.
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:
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.
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. “If you’re buying or selling a house and you’re thinking about using remote online notarization and have any questions, you can definitely give us a call,” says Christina. “We’ll be able to walk you through some situations and give you a good guide on whether Millennial Title would approve you for signing online.”