A Solution For Clients Confused By The HUD 1 Settlement Statement
The HUD form is the core of any real estate transaction but it can be hard to follow. Even experienced real estate agents and attorney sometimes have trouble completing the form which is why so many depend on HUD software like Easy HUD to streamline closing and allow the documentation to be produced quickly.
The problem comes when your client, either the buyer or the seller, has to look over the form before signing. Many consumers today are trying to be more vigilant after the real estate problems over the last few years. They pore over every document looking for suspicious entries. They want to understand the HUD 1 settlement sheet but struggle to make sense of all the jargon and unfamiliar charges. This means you end up spending a lot of your time going over each line, even information that is irrelevant to that client.
Easy HUD’s Advanced Printing Options Module gives you an alternative. Rather than presenting the entire HUD form to the client you can use the HUD settlement statement software to produce a report that shows the buyer and seller the key information without confusing them with other numbers that don’t affect their part of the deal. These buyer and seller transaction sheets are included in this optional module and provide a way of informing your clients without confusing them.
The module also allows you to print a report that lists all smart itemizations on the form. RESPA rules require many charges to be lumped together and doesn’t allow itemization on the HUD form itself, but Easy HUD allows you to itemize separately. Clients who are happy with the numbers on the HUD form are satisfied, but clients or agencies that want to know every fee that goes into a line item can see the individual costs broken out without violating RESPA rules.
Buyer and seller transaction sheets are just one of the many ways Easy HUD saves you time, speeds up closing, and improves the efficiency of your real estate business. Try a demo of Easy HUD or any of our other real estate and law practice management software titles to find out for yourself. When you see how easy they make your job, you’ll wonder how you ever got along without them.