Review of successful implementation of digital signing of (purchase) contracts with iDIN

1 year later - Like many other professional groups, estate agents have been confronted since March 2020 with the need to be able to digitally sign contracts. In cooperation with ZYNYO, NVM immediately anticipated this by facilitating digital signing of purchase contracts with iDIN authentication for all NVM estate agents.

Since doing business completely remotely has become a necessity rather than a choice, there has been a great need for a digital solution to signing documents applicable to real estate such as purchase and rental agreements, OTD purchase and sale agreements, property lists and questionnaires.

For some time, NVM has been looking for ways to make the work of estate agents and valuers easier. NVM had already started moving towards far-reaching digitalisation before the COVID pandemic. When this pandemic had a direct impact on the ability of estate agents to carry out their work, these developments accelerated.

In order to facilitate reliable and legally valid online business for brokers, appraisers and clients, the NVM approached ZYNYO to provide a user-friendly platform for digital signing with a high level of reliability for its members.

In order to make a substantial contribution to both the adoption of trust services and standardisation, the NVM has set up a project group. Via this project group, a start was made in April 2020 on signing agreements digitally in combination with iDIN.

By offering a digital signature, signing has become location-independent and possible for everyone regardless of which device they use. By signing in combination with iDIN this happens in a secure way, so the purchase agreement is legally valid.

Digital signing with iDIN authentication provides certainty about the identity and intentions of the signatories. ZYNYO's services provide assurance that the signed document cannot be altered. This security is guaranteed according to the European guidelines (eIDAS). The NVM has also coordinated these guidelines with Dutch mortgage lenders and the notary public.

Due to the reliability and ease of use of iDIN, thousands of purchase agreements have already been signed in this way, and more and more NVM estate agents are using NVM Digital Signing to conclude purchase agreements, rental agreements, OTD purchase and sale, list of items and questionnaires.