Real Estate Closing Software: Enhance Productivity and Be Accurate

The right documentation and record keeping is at the heart of real estate transactions across the country. There are specific laws governing closing by way of HUD-1 closing form for outright purchase of HUD-1A form for refinance cases, as laid out by the Federal Real Estate Settlement Procedures Act (RESPA).

A real estate transaction involves coordination and completion of related activities within a time frame for a final closing to take place to the satisfaction of all concerned. This will include contract drafting, property record searches, preparation of the HUD settlement statement and hud forms, examining and clearing titles, insurance, mortgages, loans, fund handling and transfer to connected parties, IRS Form filing, maintaining records and then filing record of deeds and all related documents. A professional has taken care of accounting for trust transactions, closing disbursement of monies and reporting to the IRS. As one can see, a real estate deal involves a series of sequential and parallel running procedures to go off in perfect coordination. Professionals consider the transaction from a tax angle too and ensure that the compliances are met with that include accounting, taxes, title, banking, compliance to Truth in Lending Laws and negotiations.

In such cases, keeping track of the state of affairs in each real estate transaction can become cumbersome and place a heavy burden, sometimes leaving very little time for the actual work in hand. However, having the right real estate closing software frees real estate professionals of all these manual and time-consuming tasks. Time is money for all professionals and the more time they have for their business, the more profitable they are. Real estate legal software helps keep track of ongoing processes, fill in hud settlement statements and ensure that the entire case is settled satisfactorily.

The perfect real estate closing software is easy to use for all real estate closing professionals and agents, helping him finalize HUD-1 closing easily. Inputs from all parties involved are compared and clarified, fixing errors and help in complying with the regulatory obligations in the right way by using this user-friendly software. This translates to higher efficiencies for real estate professionals. Entry is made only at one point and all required data is automatically entered into the HUD settlement statement, using automated calculations wherever necessary. Using real estate legal software also helps professionals work in paperless environments, retrieve data and carry out corrections wherever necessary, all at one single point with the entire records are automatically updated through this software. The cost of the software is recouped through huge savings in time, energy and higher productivity.

HUD settlement statement - Enter it Once Enter it Forever

If you're a real estate closing professional or settlement agent, then you know. From the buyer, seller, and lender, to the realtor, title insurance agent, and governmental entities: there are easily about a dozen parties involved in any given HUD-1 closing.

That's a dozen extra opportunities to receive inaccurate, outdated information-from each of these parties. That's what makes Easy Soft's data entry philosophy far more than a time saver. It makes it a “closing” saver. It'll clarify your closing, streamline your communications with parties and clients alike, sift out time-consuming errors, and help bring you into compliance with your HUD-1 regulatory obligations.

Here at Easy Soft, we specialize in legal software that helps professionals like you to become more efficient. After all, technology ought to help you in your mission to streamline your work effort, reduce your overall energy expenditure, and leave you with the time to turn your attention to the finer, more discretionary tasks inherent in your job.

So we introduced the theme of “enter it once” to all of our legal software. What this means: once you enter your client's information, you're done. That information populates all of the data fields that require it. It fills in raw numbers for automated calculations (say, on your HUD settlement statement), provides name and address details for correspondence, forms, and other filings and documentation, and lets you prepare all of the myriad things you need to: without duplication of effort. This is true of divorce data, billing data, and trust data. And it's certainly true of HUD-1 closings.

Outside of your closings, you can also use the data in more creative ways. You can use it for streamlining your records-and making them paperless. You can use it for your Rolodex-or Outlook Contacts files. It's already organized-in a fashion that you are familiar with, and can navigate around.

The data is there for when you need to correct a number or a spelling error (you only need to correct it in one place, at one time). It's there if this client and/or lender retains you again—or you have any other dealings with the same party (ies). It won't be misplaced, and (if you're backing up properly), it won't go away.

Practicing law and handling real estate closing becomes much easier when you can enter it once: and enter it forever.

To learn more about any of our legal software, call us at 800 905 7638.