Avoid Robo Signing - Best Practices for Signing Contracts

Robosigning means signing without reading the documents - and every consumer must be on the alert.  It can be especially dangerous when bank officials neglect to check bank records when making applications for foreclosures, fail to sign their affidavits supporting those applications, and fail to have those affidavits properly notarized.

Tips for signing contracts:

• Read everything.  Even though it can be daunting and you may not understand all of the fine print, you are agreeing to the terms when you sign, so you need to understand them. Big issues should jump out at you, like Waiver, Indemnification, Term, Amendment, and Rescission.
• Get professional help.  If you think about it, a home, a car and insurance are each worth thousands of dollars and probably constitute the biggest expenses and assets for most people, so spending a few hundred dollars for your own lawyer’s review is worth it. It’s even something you can do online.
• Sign electronically and paperlessly where possible for better record-keeping.
• Keep copies of everything you’ve signed.

Laws on this topic may vary from state to state. This content is not meant to provide you with complete information and it is not intended to be legal or tax advice. It is recommended that you consult with your own attorney, accountant or other advisor regarding your specific situation.