Gen Z and Homebuying: The Benefits of NotaryLive

KEY TAKEAWAYS 

• Gen Z plans to buy homes (71.5%) within 1-6 years, driven by family and rental considerations
• The proposed SECURE Notarization Act streamlines notarization with remote online notarization (RON)
• NotaryLive offers secure, convenient RON for Gen Z's streamlined homebuying

Are you a part of Generation Z (Gen Z) – the demographic born between 1997 and 2012? 

If you, you may be planning to buy a home within the next 6 years. This is according to a recent survey by Rocket Mortgage. 

The House of Representatives passed The Secure Notarization Act of 2023. 

This brings us one step closer to the nationwide use of remote online notarization technology. This legislation would allow consumers to execute electronic documents with a virtual notary, even if they are in different physical locations. 

This act is expected to increase the trend of remote online notarization technology, such as that provided by NotaryLive. In this blog post, we'll explore the benefits of using NotaryLive for remote online notarization when purchasing a home. 

As a Gen Z buyer, it is important to understand the advantages of utilizing NotaryLive for this process. 

1. Gen Z's Homebuying Plans

Rocket Mortgage surveyed about 2,000 Gen Zers. 

71.5% said they want to buy a home in the next 1-6 years. About 37% have an even more aggressive timeframe – within 1-3 years. 

The reasons for the high motivation range from wanting to start a family (34.2%) to not wanting the rent anymore (18.2%). 

2. Gen Z and Remote Online Notarization

The SECURE Notarization Act of 2023 has been passed by the House and needs the Senate's confirmation to become law. 

This legislation is particularly important for many young adults belonging to the Gen Z demographic. 

Home buying can be a daunting process, especially for first-time home buyers like Gen Zers. One major challenge when it comes to buying a house is the need for notarized documents. This traditionally requires in-person validation by a notary public. 

This can be inconvenient, especially for those who live far away from a traditional notary. It can delay the home-buying process. 

However, many Gen Zers prefer remote over in-person interactions with a traditional notary. This presents a significant hurdle for them when it comes to the traditional process of notarizing documents in person. 

3. More Challenges & A Simple Solution 

Another challenge that Gen Zers face when it comes to homebuying is the lack of familiarity with the process. Many of them are just starting their careers. 

They may not have experience navigating the complex world of real estate transactions. 

Additionally, as a generation that values convenience and digital interactions, they may be hesitant to engage in a process that requires in-person meetings and physical paperwork. 

Now, here's the simple solution . . . 

This is where remote online notarization (RON) technology comes into play. With RON, consumers can execute documents with a virtual notary, even if they are in different physical locations – this is all done legally & securely. 

Gen Z can easily receive an electronic signature from the comfort of their own home. This means that young adults who are comfortable with digital transactions can now buy a home with ease and convenience. 

4. Benefits For Other Industries 

Moreover, the availability of RON technology can also benefit other industries. These industries rely on notarized documents, including legal, healthcare, financial services, and more. 

When the SECURE Notarization Act is fully approved, there will be an increase in electronic notarizations instead of paper-based notarization. This will have a significant impact on how businesses and individuals handle their important documents.

5. The Benefits of NotaryLive for Gen Z Homebuyers

A remote online notarization platform Gen Z can utilize is NotaryLive. 

NotaryLive is a remote online notary service that allows you to remotely notarize documents from anywhere, at any time.  

With NotaryLive, you can easily upload your documents and connect with a certified online notary via audio-video technology. 

Here's how NotaryLive works in 4 simple steps: 

To get started, you can click the button below, 

Notarize Now!

FAQ For NotaryLive's Remote Online Notarization Service: 

• Is is necessary to be a US citizen to utilize our service? 
  • No. To complete the verification process, you need to either be a US citizen or have a US-based public profile. However, if you do not meet these requirements, you can have a witness verify your identity.
• What are the system requirements for remote online notarization? 
  • To use NotaryLive, all you'll need is a device such as a tablet, smartphone, or computer with internet access, a microphone, sound capabilities, and a camera.
• How much does the remote online notarial session cost with NotaryLive? 
  • Sessions start at $25 but are discounted based on your account type and monthly volume. For more pricing information, visit our Pricing Page.

Is Your Business Looking to Upgrade its Notarization Process? 

On top of the normal benefits of our platform, NotaryLive for Business allows business account holders to make frequent use as easy as possible with options such as:

• Creating sessions for their Clients
• Adding Multiple Users
• Viewing Clients’ Notarized Documents
• Single-Use or Monthly Billing (Great for high volume!)
• Volume Pricing Options
• Optional API and White Label Integration
• Plus all standard account features

**Legal Disclaimer - We are not lawyers or attorneys and do not give any legal advice. Please check with your attorneys, advisors, or document recipients if you have any unanswered questions about your documents.

Relevant Blogs:

• What is Online Notarization?
• What are the benefits of notarizing online?
• What businesses could benefit the most from online notary services? 
• Why You Should Use NotaryLive Instead of Mobile Notary Service