The Government of Ontario has announced that it will now permit the electronic signing of real estate agreements of purchase and sale starting on July 1st this year.
“The agreement of purchase and sale is one of the most important documents in a real estate transaction,” said Patricia Verge, the president of the Ontario Real Estate Association, in a press release. “The ability to sign it electronically will make the process of buying or selling more efficient. This is great news for Realtors as well as consumers across the province.”
The electronic signing of these documents is expected to speed up the process of a real estate transaction quite significantly.
She continued, “This process can be cumbersome and by the time the final version is signed, the agreement can be difficult to read. The technology allows agreements to be filled out on a computer or tablet, changes can be tracked and documents can be transmitted with ease. The government has taken the time to get this right; Extensive consultations were hosted to ensure that both the industry as well as the public were well served by the move to electronic signatures. Thank you to Attorney General Madeleine Meilleur for her leadership on this important issue.”