Will the banks accept a digital signature on addendum?

Question

Up until now I've been printing the entire addendum, signing & initialing and then scanning the entire thing back into the computer to send back to the bank.

I would gladly use a product like Cute PDF if I could scan and insert a single signature page, but the addendums I've seen also require you to initial every page and sign in multiple places, so that won't work.

I was looking into the option of a digital signature and digital initials, but according to this article many banks won't accept those. Have other people found this to be the case? I don't want to pay for a product that isn't usable.

http://184.154.226.18/~ebpublis/index.php?option=com_content&view=article&id=760:banks-balk-at-electronic-signatures-&catid=7:examples&Itemid=121

Will Barnard · Answer

Some will, some won't. That said, I don't use docusign for electronic signatures. I use a PDF editor program which allows me to add my initials and signature as many times and on as many pages of the PDF as needed and it looks just like as if I printed, scanned, and emailed back so they really can't tell the difference. Thast is the key to staying green and saving time.

Of course, some addendums and other docs require notary which can not be done electronically (obviously), but a vast majority of docs can be signed and initialed this way.

J Scott · Answer

Like Will, I use the Adobe Suite of tools (including PDF Writer) to edit and sign all my contracts, addenda and docs.  With one exception, I've never had an REO seller, a listing agent or a selling agent have an issue with digital signatures.

The one exception is HUD, which requires original signatures in blue ink on all contracts and addenda.  In fact, other than HUD contracts, I don't remember the last time I printed something in order to sign it.

Jeff B. · Answer

I also believe that eSigs need to be agreed upon at the onset of the loan and along with that is to accept a facsimile as an original.  That gets you by a ton of paper, but the closing docs will still require signatures and some notary work too.

Kent Banks · Answer

Hey here's my two cents, I like using web services for this because you can digitally sign from anywhere, no app download needed. We all know how hard we work on closing the next deal so time saving is appreciated. There's a lot of choices out there but they're limited in amount of documents and signers. I use Saydoc.com for legal signatures because they have unlimited signers and 10 documents free. Saydoc emails you when your document has been viewed and countersigned as well as showing you a timeline of all actions the reader took when looking at your document. Pretty useful for following up on your deal to bring it to a close if you notice they've looked but haven't signed yet...

Bienes Raices · Answer

I purchased a tool called PDF X-Change Viewer for $38 that will allow you to crop a signature and paste it on a new document. I'll see how it works and post back on this thread.

Rusty Thompson · Answer

I also use a tablet pc with a wacom screen. It comes with a pen which makes signing a lot easier

Rusty Thompson · Answer

I have the adobe suit, so I just use writer. But it saves me a lot of time and paper. Any editing software will work, then just print to pdf. I prefer pdfill personally.

Will Barnard · Answer

I see, so much for government preaching "green".

J Scott · Answer

HUD *literally* requires original signatures in blue ink.  In other words, no electronic submissions or faxes.  You either print and mail the docs or you drive to the HUD office and drop them off.

So, while signing digitally in color may work, you still need to print and send/delivery...and as long as you're printing, it's easier to just sign.

Will Barnard · Answer

I have used several different versions, but currently am using Nitro PDF Reader wich allows me to add in my signatures, initials, dates & other text, then save it as a flattened PDF so nobody else can tell that it is an electronic signature.

@ Jason Scott - I have not tried it as I do not typically ever make offers on HUD properties, however, I am sure there is a way to scan in a blue ink version of your signatures/initials and then attach them in color to your PDF doc. - Worth a try I guess.

Will the banks accept a digital signature on addendum?

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