What if you could close without so much paper?

Barriers, doubts remain, but more work of the common closing is being done electronically, and the trend is only growing.

These days, you can use a computer to order an entire wardrobe without trying on clothes first. You could earn a college degree without ever setting foot in a classroom. Or buy a car without stepping onto the lot.

But while so many transactions can be completed electronically, buying a house has remained rooted in the world of paper — reams of it, in fact, as anyone who has sat through a tedious closing ceremony could attest to.

The real estate industry has been slow to adopt change, and homeowners and buyers are still wary of putting such important financial information online.

“The technology is there,” said Mark Lesswing , vice president of the National Association of Realtors’ Center for Realtor Technology. “It’s mostly making everybody feel comfortable with the process.” (Read More)

Source: Boston Globe

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