Hud Software Speeds Up Real Estate Closing

A real estate transaction involves many compliances prior to and post transaction

, submission of HUD 1 forms for the HUD 1 closing and documents besides making sure that all details are perfectly accurate and precise across documents throughout the transaction. This can slow down a real estate closing. These days property and real estate agents as well as attorneys and registering authorities make use of HUD software or real estate closing software. This makes filing HUD closing statement and the HUD settlement statement easy and automated, with online submission of HUD forms. HUD software speeds up the entire real estate closing processing and saves time, freeing real estate attorneys to process more cases.

An ideal HUD software is easy to use with a menu system anyone can understand and operate easily. It has a simple interface permitting input of all data of buyers and sellers and agents in one entry point. This data can then be used in all HUD, HUD-1 and HUD-1A forms and other documents such as letters, deeds, affidavits and contracts, ensuring accuracy throughout the transaction. The real estate closing software includes over 200 real estate forms, generates closing ledgers, prints check, generates & electronically submits 1099-S, a printable summary transaction sheet and capabilities to compile all documents in one location, ready to print in Word or PDF format. Reports on HUD closing statement, HUD settlement statement and just about any item can be generated easily with only a few keystrokes.

Property managers, real estate agents and real estate lawyers using this HUD1 settlement statement software have reported huge savings in time, manpower and costs over time. The software carries out all calculation and completes HUD forms to also include tax proration, calculates lender statement showing the gross loan, disbursed loan and deductions and calculation of property transfer charges relevant to each State in the US.

The HUD software has all these features and a host of productivity enhancing features. It is network ready: different people can work on a case and have all relevant documents compiled in a central location, with a case log generated in respect of all actions and transactions for easy tracking purposes. These and other user-friendly features make it a must have for real estate transactions involving HUD forms, HUD1 forms and HUD closing statements. Today this real estate closing software has become indispensable and is universally used by everyone connected with real estate transactions on a daily basis.

Rounding off the excellent features, the HUD closing software incorporates all actions related to post closing transaction like Electronic 1099-S reporting and submission from the HUD software. Accuracy ensures minimal chances of rejection by IRS. The software eliminates last minute rush and hassles entirely since all data is already there and simply needs to be channeled to the appropriate 1099-S form. Additionally, its Lien Release tracking service integrated with HUD makes post transactions very easy and finally rounds off a transaction for your and your clients peace of mind.

In todays frenetic pace of life, real estate transactions without the right HUD closing software would be unthinkable.

by: Rick Kabra

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