As most things go lately every event seems to be of a historical nature. Winter Storm Uri that blanketed the state in a frigid white frosting and forced millions of people to improvise on the little things like heat and water was nothing short of such an event. However, the real estate market kept pushing forward through the bitter cold, frozen roads and rolling blackouts. Thanks to a new, technology-driven notarial process called Remote Online Notarization (“RON”), real estate closings continued and Buyers and Sellers were able to keep their contractual commitments even though mother nature was trying to dictate otherwise.
“The level of satisfaction expressed by our customers was maintained and even excelled despite freezing temperatures, power outages, icy roads and diminished water levels. This was in large part due to the expedient technology of RON. RON has empowered our team of professionals to be at their most productive in accomplishing superior customer satisfaction levels, all while executing their duties in remote locations.” said Audriana J. Laws, Vice President/Escrow Officer with Republic Title’s eVolve Division.
What exactly is Remote Online Notarization?
Remote Online Notarization (”RON”) is a technology-driven notarial process that allows the signer to appear before the notary over a live audio-video feed when executing digital documents. Our dedicated team of professionals provide our customers with a clear understanding of what is being signed and why it’s needed ensuring a virtual closing experience with the signing party being located practically anywhere in the world.
In the case of Winter Storm Uri, that meant signing parties were closing virtually during the rolling blackouts or in some cases no power at all from their homes, hotel rooms, vehicles, and other numerous locations where some variation of power and internet was available.
“Having the capability to close so many transactions and service our customers during the most treacherous weather we have seen in our state was a true testament to the value of the RON eClosing model and the technology Republic Title has available. The roads were so bad that a typical mobile notary was not an option. As long as we had an internet connection and electricity, or in some cases a full charge on the laptop battery, we were able to close transactions via live audio-video feed seamlessly. The sheer volume of closings we completed under these circumstances would not have been possible without Remote Online Notarization. The software platforms that we use to conduct these virtual eClosings provide a painless experience for both the Digital Closer and the Signer.” said Robin Riggs, Vice President/Escrow Officer with Republic Title’s eVolve Division.
So how does Remote Online Notarization work?
Through a technology-driven notarial process the signer will go through the below five steps:
- RON Vetting Requirements | Signers must be able to verify minimum personal information and personal device vetting requirements to conduct a RON session.
- Identity Verification | Using the latest identity verification technologies, the signer will take a knowledge-based identity quiz and submit ID for review.
- Audio-Video Conference | The notary and signer talk over webcam in real-time and observe the necessary digital signatures and seals being added to the digital documents.
- Tamper-Sealed Documents | The notary adds a tamper-seal to date/time-stamp the notarized documents. The signer downloads a PDF of the completed, digitally signed and digitally notarized document.
- Audit Trail and Notary Records | Like with traditional notarizations, the notary keeps a journal logging the basic details of the notarization.
Republic Title has fully embraced the digital closing experience and has a dedicated division, eVolve, focused on the digital settlement approach of the real estate transaction. eVolve is able to provide a new, convenient and alternative experience in buying/selling real estate. We invite you to eVolve with Republic Title in your approach to closing on your next real estate transaction.
For information on digital closings, please visit www.republictitle.com/evolve