HUD-1 Closings: What’s the last thing you’ve got to remember?
You’ve just finished closing a deal. It went without a hitch. You prepared your HUD-1 closing statement, dotted your I’s and crossed your T’s in exactly the way that RESPA prescribes. Everyone brought the right checks, and buyer and seller left happy.
Now, go back to your office and perform the final step. Aside from 1099-S reporting (which Easy Soft can handle for you with 1099-S Electronic Filing Service), don’t forget to enter your closing ledger data in your trust accounts.
That way, you won’t have to wonder if you did it, backtrack, and take chances with your accuracy.
Luckily, the process is seamless: with two crucial pieces of software.
First, Easy HUD 5.0 software: the choice of thousands of settlement agents, real estate law firms, and title companies for seamless, accurate real estate closings.
Second, Easy Trust, a complete trust account management system that tracks all client funds and bank reconciliations, and generates required trust accounting reports.
Once you’ve completed your latest closing, you can simply transfer the HUD closing ledger to Easy Trust. The software minimizes data re-entry, thereby ensuring seamless accuracy.
If you follow these steps to prepare all real estate documents, HUD settlement statements, disbursements, trust account management and 1099-S reporting, your firm can reap significant savings in time and money.
To learn more about Easy HUD software and our trust accounting software, call 800-905-7638. We promise you’ll get a real person on the line who can answer all of your questions.