Real estate attorneys and settlement agents are skilled at reviewing contracts and making sure all the paperwork is in order for every one of their clients’ transactions, but what about facilitating the actual closing? Is your firm farming this out to separate settlement agents? If so, you are losing out on income that could be paid directly to your firm.
Outsourced Closings = Lost Opportunity Costs
Assuming attorneys make $450 per closing, we can also assume that settlement agents charge roughly the same amount – otherwise, there wouldn’t be much of a competition for business, would there? Every time you refer a closing to a title agency, that’s $450 that you never see. Why not bring that money to your firm by adding settlement services to your repertoire?
Sometimes it may not be possible for you to represent a buyer or seller AND act as settlement agent due to the need for the settlement agent to be impartial. However, there’s no reason you can’t act as a settlement agent for closings where you are not representing the buyer or seller.
You’re already familiar with the steps in a closing and the paperwork requirements. Managing closings yourself is a logical next step.
EasyCDF Makes It Possible To Manage Closings In House
Some attorneys are leery of handling real estate closing transactions because of the escrow requirements and compliance with federal regulations – or more specifically, the fines and penalties for NOT complying with federal rules and regulations.
EasyCDF can eliminate both of these worries and provide an automated, streamlined, easy closing process even if you’ve never handled closings before. Our EasyCDF software is the new and improved version of Easysoft Legal Software’s popular EasyHUD real estate closing software. The software is capable of managing the entire closing process for you from start to finish. Just follow the prompts and you have a total real estate closing system. It’s compliant with the upcoming 2015 TILA-RESPA changes (TRID).
- 100% TRID Compliant
- Automatically populates GFE-HUD Comparison Sheets
- Displays Charges as a Lump Sum or Itemized
- Provides over 200 of the different real estate closing forms needed
- Prepares Automated and Balanced Disbursement Ledgers
- Prints Checks
- Files 1099-S forms electronically
- Automatically calculates fees, payments, and balances
Save Money, Make Money With EasyCDF
By now you are probably thinking, “Ok. Sounds great. What’s the catch? How much is this going to cost me?” Happily, we can tell you that you will recoup your EasyCDF investment costs after just one or two closings performed in-house. Currently we are offering EasyCDF for just $69/month per user billed annually.
The $69/month price is part of our pre-TRID implementation special pricing. After July 1, 2015 that price is going to go up, so contact Easysoft Legal Software today by calling 1-800-905-7638 to lock in at this low rate and get started with EasyCDF.