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rlrawalt, Real Estate Pro in Denver County, CO

I am submitting a contract to Fannie Mae today and it needs to be in by 2 PM. Will they accept electronic signatures?

Asked by rlrawalt, Denver County, CO Wed Jan 16, 2013

My clients are busy today and do not live close. I realized I submitted a contract back in Sept. that had electronic signatures to Homepath and it was accepted. But under the broker description on our MLS, it said they will not accept electronic signatures. I don't want their bid to be rejected because of this. I know that we have to redo it once it's accepted anyway. Any advice?

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8
Believe it or not, I had the same situation today: no wet signatures and in addition to submitting it online i needed to send all to a listing agent. I got a response right away: multiple offers round. Deadline by noon.
Did your buyer get a house?
0 votes Thank Flag Link Fri Jan 18, 2013
Rlawalt,

Since they accepted it you should be fine. They may ask for original signatures later. They tend to be inconsistent, but reasonable. They do prefer that everything have original signatures. As Jim said, call the listing agent for advice on how to proceed from here. If you don't mind, let us know what happens and what you here from Fannie Mae and from the listing agent so we will all be clear on this for our future offers.


Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
Direct - 303-669-1246
http://about.me/robertmcguire33
0 votes Thank Flag Link Wed Jan 16, 2013
I agree with Rhan.
I send electronic signatures ( submit to homepath.com), but if it is accepted or they need additional forms, it is usually must be 'wet'. Same experience as you had in Sept.
But in this case I'd follow the agent suggestion( even wet signatures makes all much more complicated and time consuming..)

Good luck!
0 votes Thank Flag Link Wed Jan 16, 2013
In my experience it is best to get wet signatures, but if you are not able to physically get your buyers signature I would recommend having the buyer sign their name with the mouse as best they can and not just selecting signature fonts. The signature fonts will get rejected for sure.
0 votes Thank Flag Link Wed Jan 16, 2013
It depends - just ask your contact person
0 votes Thank Flag Link Wed Jan 16, 2013
Are you submitting the Fannie Mae purchase addendum after having your offer accepted or is this your initial offer? I have listed and sold a lot of properties for Fannie Mae and per the sales guide electronic signatures are acceptable to submit your initial offer. Now if they accept your offer than all the signatures have to be "wet signatures" on the final Real Estate Purchase Addendum.
0 votes Thank Flag Link Wed Jan 16, 2013
from my experience to submit and offer it has to be "a wet-signature" and if they are purchasing with a loan they will need a pre-approval letter. Does your electronic signature give the buyers a choice to sign with their mouse on the computer? Sometimes this works. but if they just pick a font it will be rejected.
0 votes Thank Flag Link Wed Jan 16, 2013
It appears you are correct as they don't accept electronic signatures. The best advise I can give is call the listing agent and inquire directly with that agent.
A faxed copy of the contract would work.
0 votes Thank Flag Link Wed Jan 16, 2013
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