3 Reasons Why It’s More Efficient to Open Your Escrow Online Than on Paper

3 Reasons Why It’s More Efficient to Open Your Escrow Online Than on Paper

3 Reasons Why It's More Efficient to Open Your Escrow Online Than on PaperPaper forms have been around for a long time, so it’s understandable that so many escrow businesses continue to use them.

A tried and tested method is usually more appealing than the daunting prospect of installing a new digital system that will transform how data is processes, which is why most escrow accounts are still opened using paper forms.

However, it’s hard to deny the usefulness of digital forms when applying for escrow, with it offering many advantages over the traditional paper form.

Here are 3 reasons why it’s more efficient to open your escrow online instead of on paper:

Takes Less Time to Complete

Even if you don’t type that fast, filling an online form is still usually faster compared to writing it on paper. For instance, when writing on paper you need to focus on making it eligible while avoiding any spelling errors, which is why filling out important documents like an escrow application can take forever.

With online forms, you can complete the escrow opening process in a fraction of the time. Correcting typos and errors is quick and easy as you don’t need to finger through countless pages to make any changes, with most digital forms alerting you to an error (like writing in the wrong box) before moving on.

Additionally, if you use auto complete forms on your computer, you can add lots of information automatically to complete the forms even quicker.

Faster Processing for the Escrow Company

When opening an escrow account online, you can expect it to be approved much faster than if you did it in writing. This is because processing digital forms is much more streamlined, with all the information being instantly transferred to the escrow company who can then start the approval process.

A written document may be mailed to the escrow company, assuming you didn’t fill out onsite, and even if you did there is a good chance it’s going to be processed by a few different departments. This means more copies being made and sent around, increasing the time it takes to finalize the opening of the account.

Mobile Friendly for Added Convenience

Because most websites are now optimized for mobile devices, you can open an escrow account from your phone! This means you can quickly make amendments to the information if needed, allowing for fast and efficient processing should there be any issues with your application.

The escrow company can also use their mobile devices to work on the application, ensuring it gets done as quickly as possible so that you can open the account with minimal downtime.

Inland Empire Escrow  provides escrow services for a diverse variety of real estate transactions.  With offices in Chino CA and San Bernardino CA, we quickly and professionally service all the surrounding cities such as Chino Hills, Ontario, Rancho Cucamonga, Upland, Riverside, Redlands, Colton, Grand Terrace, Yucaipa, and more.  To hear more about our escrow services for residential, mobile home, short sale, REO, bulk/business sale, 1031 Exchange, or agricultural escrow, contact us today at (800) 917-9387.