Real Estate Closing Software Offers Seamless Integration of All Processes
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Posted On :
Sep-29-2011
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Article Word Count :
460
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A real estate transaction involves compliance with so many legal requirements that it becomes quite a chore for a real estate professional or agent to keep track and implement the right process at the right stage for a successful final closing.
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A real estate transaction involves compliance with so many legal requirements that it becomes quite a chore for a real estate professional or agent to keep track and implement the right process at the right stage for a successful final closing. The January 2010 introduced Federal Real Estate Settlement Procedures Act (RESPA) dictates that all parties receive HUD settlement statement and HUD-1 Form or HUD1A form, further complicated by the Good Faith Estimates (GFE) obligations involving complex calculations. This has significantly increased the burden and raised the onus on attorneys and real estate professionals in respect of compliances from start to finish.
As a busy real estate attorney or professional, you may be handling several deals at the same time and each may be at a different stage of progress. Doing it manually involves having additional staff and then there is no guarantee of accuracy. A better way is to go in for Real estate closing software that makes real estate transactions a breeze. Post transactions too you have easy access to detailed records and reports through the real estate legal software. Technology implemented in a user-friendly package with a short learning curve enables even non-computer savvy people to use it productively throughout the whole process.
A typical real estate deal involves negotiations and drafting of contract, property record searches, fixing the closing date, preparing HUD forms and HUD settlement statements, title insurance matters, existing mortgage settlement, loan for the new buyer, transferring funds across buyers and sellers and mortgage lenders, filing record of deeds, mortgages, affidavits after the transaction as also IRS Form 1099S. If you have only a few deals in hand, doing it manually works but if you have a number of clients, managing each one's case and complying with all requirements within the scheduled time limit becomes difficult. However, real estate closing software offers a variety of forms templates with customizable features and facility to integrate the entire transaction through merging into one final output in Word document or PDF format that can be printed or emailed.
Entering data, changing it and correcting it is easy through a central data entry point and once this is entered it can be used in all forms and documents. If you consider the number of documents and forms, this features saves a lot of time and money with perfect accuracy guaranteed throughout the process.
While the initial and intermediate stages are important, the closing and post closing processes such as disbursements, accounting for trust transactions, filing 1099-S and other agencies are equally important.
The real estate software takes care of all these tasks and processes quickly and efficiently, with no margin for errors so you can handle more cases, become more productive and profitable.
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Article Source :
http://www.articleseen.com/Article_Real Estate Closing Software Offers Seamless Integration of All Processes_86931.aspx
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Author Resource :
Hud settlement offer software like real estate closing software,hud settlement statement and hud 1 closing which helps lawyer to automate their work.
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Keywords :
Real estate closing software, Hud settlement statement,
Category :
Reference and Education
:
Legal
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