High-Impact Software for Million Dollar Mistakes
Sometimes, seasoned real estate professionals don’t see the point of having specialized HUD-1 software. Take the HUD settlement statement form. If it’s your practice to complete it on paper, making manual calculations and adjustments as you go, then the point of using a HUD-1 program is surely lost on you.
To us, that’s like claiming a tricycle can fly you to Cambodia. You’d need a lot of ingenuity – and a fair bit of magic – to make that happen.
You see, the HUD-1 form isn’t a simple data intake form. It’s full of nuanced, fidgety little calculations – all of which our HUD-1 software performs on your behalf. And therein lies the real value.
Say the seller paid for sewage for the entire year. It’s only July, and he’s selling. Clearly, the seller needs to be credited for his sewage payments. You’d simply punch in your sewage proration per diem, and out spits the right number: almost to the hour.
Has the closing been pushed back by a week? 10 days? Okay. Rather than fill out a new form and put your hard-driving calculator back to work, you simply punch in your new closing date, and let each number automatically adjust. There’s no need to:
- Perform the calculations all over again
- Double-check to see if anything fell through the cracks
- Worry that some of your calculations are flat-out wrong, and that your client will suffer later from your mistake(s)
Nope. Put in your number, enter your closing date, and let the result grind out like an automatic sausage machine. The same goes for all utility charges, payoffs of mortgages and other liens…even city and county transfer taxes. (Our HUD-1 software provides transfer tax rates for over 40 jurisdictions in the country.)
The advantages to you? You won’t make a mistake that costs you money that can never be recovered – no matter how little or great. Additionally, since you’re likely charging a fixed-fee for your services, you do the same work in less time.