Is e-signature valid on the document (sale agreement) which is made while paying 10% down payment for the flat and how safe it is?

 Yes, an E-signature on sale agreement is valid and safe to proceed if down payment paid on account transfer.

As part of the digital India initiative, real estate in India is encouraged to move as much of the business dealing online. That includes property listing, property tour, transaction, and documentation.

Especially the usage of e-signature in India growing at the time of COVID-19 pandemic. Almost 70% of real estate customers are engaging in e- signature for multiple real estate documents that include sale agreement, allotment letter, and possession letter.

In Karnataka, many government-operated websites are using e- sign by using Aadhar number enabled. Some are Sakala online service for Khata transfer, BBMP Property tax application, and Kaveri Online service for encumbrance certificate extract.

To answer your question, you can proceed with e-signature with a unique identification number. Below image in circle for your reference,

Image for post

Some of below applications provide e-signature service with unique identification code for each e-signature, Ex: Docusign, digisign, easysign, cam scanner, and many more in market. We can find cost-efficient application if we explore little deeper.

Regards to 10% of down payment, keep the transaction online either cross cheque, Demand draft, or online account transfer. Account transfer keeps track of payment and acts as supporting document for legal suit in case require. (Your fund is safe as far as transaction is online).

On the other hand, we believe that you have geographical or medical constrain to present personally and sign the sale agreement. In this situation, you have other following options to obtain

  1. Courier
  • Your personal presence is not required for sale agreement signing. Hence once seller sign the agreement, inform the seller to courier the agreement to you. You can sign the agreement after you receive it.
  • If you are obtaining for bank loan, franking of sale agreement is mandatory after seller & buyer sign, so you need to courier back the agreement to seller, bank, or local guardian for franking and submit the agreement for home loan application

2. GPA (General power of attorney) or SPA (Special power of attorney)

The following documents excluded from e-signature.

  1. Sale deed: E-sign is accepted for sale deed registration but your presence is mandatory in sub-register office for fingerprint sensor and webcam photo. Nowadays sale deed is registered through Aadhar enable e-signing. You receive OTP to your mobile, say the OTP to sub-register officer to complete e-sign of sale deed registration.
  2. GPA or SPA: E-sign is not valid for GPA registration but it is possible to execute GPA without you visiting sub-register office. (You being in overseas or under medical condition)

In Bangalore, we provide assistance in sale agreement drafting + execution + obtaining seller & buyer sign (Including e-sign) + franking + home delivered.

We provide the service of GPA drafting + execution + registration

To opt for our service, please write to us pgnproperties@gmail.com or Whatsapp +91–9742479020.

Thank you for reading…

Location: Bengaluru, Karnataka, India

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