Notarize and Snapdocs, two leading e-sign and online document companies have announced a partnership that will make home closings faster and easier for all parties involved. 

Notarize is a company focused on remote online notarization, or RON, that allows the notarization process to take place completely virtually. They have announced a partnership with Snapdocs Inc., a platform that allows for virtual mortgage closing. Together, these companies will bring a more seamless integration to a closing process that can be completed entirely online.

Founder and CEO of Notarize Pat Kinsel said in a statement that he believes Snapdocs is moving the entire real estate industry towards a future where all closings are done completely digitally. Notarize has been working towards the same goal, and he views this partnership with Snapdocs as getting “everyone there faster.”

According to the American Land Title Association, or ALTA, RON transactions increased by 547% during 2020. This was no doubt due in part to the onslaught of the COVID-19 pandemic. At that point, 29 states had passed RON legislation enabling further growth. ALTA told its members that Texas is one of the states most extensively making use of RON.

Switching from pen and paper closings to fully digital closings could save more than $1 billion annually and 120,000 trees, according to Notarize. They also estimate that if “every lender, title company, and real estate agent went from shipping documents via FedEx and UPS to sending all documents electronically, that’s more than $100 million in annual savings”. Not only does this method of closing benefit the environment, but it is also more economical in terms of time and money.