{"id":65091,"date":"2019-02-21T05:00:47","date_gmt":"2019-02-21T13:00:47","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=65091"},"modified":"2020-10-06T17:08:02","modified_gmt":"2020-10-07T00:08:02","slug":"fully-digital-home-closings-save-trees","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/fully-digital-home-closings-save-trees\/","title":{"rendered":"How Many Trees Can Be Saved With Fully Digital Home Closings?"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\"><a href=\"https:\/\/redfin.com\/guides\/how-do-eclosings-work\">eClosings<\/a> save time and stress\u2014and they have the potential to save more than 100,000 trees per year.<\/span><\/i><\/p>\n<figure id=\"media-65092\" class=\"align-none\"><\/figure>\n<figure id=\"media-65094\" class=\"align-none\"><img decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2019\/02\/Redfin-2019_DigitalClosings_Infographic_190214-2.png\" alt=\"How many trees are saved with fully digital closings?\" data-portal-copyright=\"\" data-has-syndication-rights=\"\" data-license-id=\"\" data-licensor-name=\"\" \/><\/figure>\n<p><span style=\"font-weight: 400;\">Anyone who has purchased a home knows there\u2019s a lot of paperwork to read through and sign at the closing table. But with <\/span><a href=\"https:\/\/www.redfinmortgage.com\/mortgage\"><span style=\"font-weight: 400;\">Redfin Mortgage<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"http:\/\/www.titleforward.com\/\"><span style=\"font-weight: 400;\">Title Forward<\/span><\/a><span style=\"font-weight: 400;\"> now offering fully digital closings, which allow homebuyers to <a href=\"https:\/\/redfin.com\/blog\/eclosings-how-to-close-on-a-home-virtually\/\">close completely online<\/a>, the stacks of paper that have become a standard component of a home purchase transaction may soon be a thing of the past.<\/span><br \/>\n<span style=\"font-weight: 400;\">So, just how much paper would be saved in the U.S. if every single home closing was fully digital? Let\u2019s break it down:<\/span><br \/>\n<span style=\"font-weight: 400;\">There were about 6 million<\/span><span style=\"font-weight: 400;\"> home sales last year in the U.S. and about eight out of every 10\u2014roughly 4,800,000\u2014included a mortgage. For the sake of simplicity, we\u2019re limiting this analysis to home sales including mortgages. The total documentation required to close a home sale<\/span><i><span style=\"font-weight: 400;\">\u2014<\/span><\/i><span style=\"font-weight: 400;\">including the loan paperwork along with title, tax and various other legal documents<\/span><i><span style=\"font-weight: 400;\">\u2014<\/span><\/i><a href=\"https:\/\/redfin.com\/blog\/2019\/01\/how-does-a-fully-digital-eclosing-work.html\"><span style=\"font-weight: 400;\">generally totals around 200 pages<\/span><\/a><span style=\"font-weight: 400;\">, according to Redfin Mortgage head Jason Bateman, though the pile of paper can be up to <\/span><a href=\"https:\/\/www.thesimpledollar.com\/dont-let-that-1000-page-mortgage-application-scare-you\/\"><span style=\"font-weight: 400;\">2,000<\/span><\/a><span style=\"font-weight: 400;\"> pages. <\/span><br \/>\n<span style=\"font-weight: 400;\">Using a conservative estimate of 200 pages per home closing, that means Americans use 960 million pieces of paper per year on home closings. \u00a0<\/span><br \/>\n<span style=\"font-weight: 400;\">The typical tree produces about <\/span><a href=\"https:\/\/www.quora.com\/How-many-trees-are-cut-down-for-a-single-sheet-of-paper\"><span style=\"font-weight: 400;\">8,000 sheets of paper<\/span><\/a><span style=\"font-weight: 400;\">. That means 120,000 trees would be saved each year if every home closing in the U.S. were fully digital. <\/span><br \/>\n<span style=\"font-weight: 400;\">To take the analysis one step further, a mature forest has roughly 100 trees per acre. That means those fully digital home closings would save about 1,200 acres worth of forest every year. <\/span><br \/>\n<span style=\"font-weight: 400;\">In addition to the environmental benefits, fully digital closings can be quicker and more convenient than traditional paper methods. Homebuyers who use Redfin Mortgage\u2019s eClosing services, for instance, can usually close the sale in an hour or less, about half the time of an in-person closing. And an eClosing can be done from anywhere with a good internet connection and a webcam.<\/span><br \/>\n<a href=\"https:\/\/www.redfinmortgage.com\/mortgage\"><span style=\"font-weight: 400;\">Redfin Mortgage<\/span><\/a><span style=\"font-weight: 400;\"> offers fully digital closings in Texas, Virginia, Illinois, Pennsylvania, Minnesota, Maryland, Tennessee and Washington, D.C., and will continue to add states as they\u2019re allowed by law. <\/span><br \/>\n<a href=\"https:\/\/redfin.com\/blog\/2019\/01\/how-does-a-fully-digital-eclosing-work.html\"><span style=\"font-weight: 400;\">Here\u2019s much more information<\/span><\/a><span style=\"font-weight: 400;\"> on the benefits of using Redfin Mortgage for a fully digital closing, plus step-by-step instructions on getting it done. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>eClosings save time and stress\u2014and they have the potential to save more than 100,000 trees per year. Anyone who has purchased a home knows there\u2019s a lot of paperwork to read through and sign at the closing table. But with Redfin Mortgage and Title Forward now offering fully digital closings, which allow homebuyers to close [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":65094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[],"dashboard":[],"coauthors":[],"class_list":["post-65091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How Many Trees Can Be Saved With Fully Digital Home Closings?<\/title>\n<meta name=\"description\" content=\"eClosings save time and stress\u2014and they have the potential to save more than 100,000 trees per year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.","url":"https:\/\/www.redfin.com\/news\/author\/dana-andersonredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/65091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13153"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=65091"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/65091\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/65094"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=65091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=65091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=65091"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=65091"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=65091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}