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Tag Archives: hud closing statement
Time is what we want most, but what, alas! we use worst — William Penn, 1693
Time is money — Benjamin Franklin, 1748
Four centuries later, those statements are as true as they were in their day. We feel like we don’t have enough time but that is because we squander it by working inefficiently, and when we waste time we waste money. Today we have time-saving tools that Penn and Franklin couldn’t have even imagined, but the tools work only if we use them efficiently.
Our clients report that Easy HUD allows them to complete the HUD 1 settlement statement in 70% less time than it takes to do it by hand. Easy form completion and centralized case data allow the forms to be completed more quickly. Automatic calculations are not only faster than punching numbers into a calculator, but eliminate arithmetic errors that can take hours to track down.
Easy Soft’s HUD program is more than an easy way to complete a HUD 1 statement. It includes other time management tools that streamline every aspect of your real estate practice.
There is one piece of advice common to every time management book and class you can find: Write It Down! Trying to keep your schedule in your head creates a disorganized muddle and has you jumping from task to task. Making lists focuses your efforts and ensures you’ll never forget important details.
This is why we incorporate a task list and a to-do list so you can easily track tasks whether you are a single-person office or if you delegate to a team of professionals. The calendar shows you appointments, filing dates and other important information at a glance. Track the electronic documents associated with a particular HUD closing statement using the LinkedDocs tab, which not only lists the documents but links to their location on your computer or office network.
When you optimize your real estate office, you can do more with less. You spend less time on each case allowing you to handle more cases. You reduce errors. You provide better service to your clients.
Contact Easy Soft to discover how our real estate and law practice management software products simplify and automate the details of your practice.
Mortgage rates are plummeting. Just this week Freddie Mac reported the 15-year fixed rate hit a record low of 2.61% and the 30-year fixed rate is at 3.4%, less than 0.1% above its record low. Homeowners are rushing to refinance to take advantage of these low rates and real estate offices not using real estate title software are at a disadvantage over those who do.
When there is a rush of customers, you can’t afford to take as much time filling out the HUD closing statement as you used to. The faster you complete the forms, the more clients you can take in a typical workday. You don’t want to have to tell a potential client–or worse, an existing client–that you are too busy to get to them right now. Nor do you want to leave customers waiting long enough for you to fill out the forms that they start shopping around for another agent.
HUD settlement statement software like Easy HUD cuts your closing time by up to 70%. You can process the paperwork in a flash and move on to the next client. If the refinance is an existing customer, then all you have to do is pull in the information from the previous sale, verify it is up to date and click to print the refinance form. New clients are nearly as fast–you just enter a little information and let the software do the hard work.
We realize that when it comes to the HUD 1 settlement statement, accuracy is more important than speed and that’s another advantage of using software rather than filling the papers out by hand. Calculations are performed instantly and are correct. You can be sure you are completing your closing in full RESPA compliance.
Electronic 1099-S filing puts the crowning touch on fast, accurate closing. File the forms as you close rather than doing a year’s worth of forms in a rush. All data is verified before being securely transmitted to the IRS and you get immediate confirmation the form was received.
Use our legal software for attorneys and real estate agents to bring your practice into a new era of speed, efficiency and customer satisfaction.
Spring is traditionally when home sales volumes trend upward and recent numbers indicate 2013 might be the best year in quite some time as the country slowly lumbers out of its real estate slump. If you aren’t prepared to handle more business then you are throwing money out the door with every missed sale. Now is the time to invest in HUD settlement statement software to streamline your business.
This can happen in any industry that sees a downturn. Professionals unconsciously adjust their expectations to the new normal. Agents who struggle to make a few sales can take the time to complete a HUD closing statement manually because there aren’t a lot of those forms going out each month.
The problem with this attitude is that when sales rise and more potential business walks through the door, the agency isn’t prepared. Their old system holds them back by creating choke points in the process. What’s worse is people make the mistake of assuming busy means successful, when busy often just means inefficient. Wouldn’t be great if you could fill out the HUD 1 settlement sheet faster and more accurately? You can if you use software designed specifically to facilitate real estate industry transactions.
Today there is no excuse to be completing HUD paperwork by hand. It doesn’t matter if you are a small office on a tight budget. Software is inexpensive and pays for itself in no time in increased sales. It doesn’t matter if you don’t understand computers. Real estate title software is easy to use and agents can be up and running within minutes. It doesn’t matter if you are using an older version of Windows, a Macintosh or even a tablet computer. Cloud-based software can be used on virtually any computer.
Make sure you are ready for the rise in house sales many experts see coming this summer. Automate your real estate office with legal practice management software that is flexible, straightforward and affordable. Clear the path now so you are ready to handle all the new clients that will be coming your way in the near future.
It’s no secret that real estate sales involve a lot of paperwork. After completing the HUD-1 settlement statement agents still need to file 1099-S form with the IRS. Although you can send in paper forms the IRS is encouraging filers to submit the documents electronically. There are several reasons why electronic 1099-S filling is the better choice for real estate professionals because it is:
1) Easy – Easy HUD not only helps you complete the HUD closing statement but also handles 1099-S e-filing. The software automatically takes all the information you’ve already entered and completes the form for you.
2) Fast – File your 1099-S form with the click of a button. The file is transmitted securely to the IRS and you receive an immediate confirmation number so you know the document was received.
3) Accurate – When you copy information from the HUD 1 statement to a paper 1099-S you run the risk of making errors that will cause the IRS to reject the form and force you to re-file. You have better things to do with your day than submit multiple tax forms so make sure it’s right the first time.
4) Green – Save a tree by not using paper forms. E-filing has virtually zero environmental impact.
5) Affordable – Enrollment in our 1099-S e-filing program is free. You pay only a small flat fee for each filing with no hidden costs.
6) Timely – You can file 1099-S forms as you complete transactions over the course of the year. Real estate offices that use paper forms tend to put them off, and find themselves struggling to get all the submissions in before the annual deadline.
7) Mobile – The cloud version of our legal practice software can be used anywhere you have an internet connection. You don’t have to wait to get back to the office to file. You can transmit the forms from anywhere.
8) Safe – Electronically-filed 1099-S forms are as safe as or even safer than forms sent through the mail.
Contact Easy Soft to find out more about how our HUD settlement statement software and 1099-S electronic filing service saves your office time, protects you from errors and helps you stay on top of IRS filing requirements.
Most people don’t go into real estate because they love filling out government forms and adding up long columns of figures. However it’s important not just to complete the HUD settlement statement form but to understand it. When you fully comprehend the figures before you, you can get the best deal for your client and the best commission for yourself.
Handling the HUD closing statement is a lot easier today than it was a few years ago. User-friendly real estate software like Easy HUD handles the calculations, freeing the agent to focus on closing the deal. Users can feel confident the final numbers are correct without the errors common in manual calculations. Even the most math-phobic professional can handle plugging a few numbers into a form and letting the computer do the work.
However Easy Soft’s HUD settlement statement software is more than just a glorified calculator. Regular updates ensure the software is always in compliance with current RESPA regulations, state and county tax tables, as well as taking advantage of the latest computer technologies.
Software allows agents to complete the settlement statement more quickly. You need to be out there making the sale and finding more clients, not slaving over stacks of forms. Easy HUD handles the forms, handles the math and handles the rules so you don’t have to. Stop playing bookkeeper and do what you got into the industry to do: help people achieve the dream of home ownership.
Our latest generation of legal practice management software is available in cloud versions that simplify the process even further. Real estate is a mobile profession and the most successful professionals need to be able to complete forms on the fly. Access all of your client information easily and securely anywhere you can get an internet connection, even from your iPad or other tablet computer.
Don’t let your fear of numbers slow you down or limit your potential. Download a demo of the desktop version of Easy HUD to see how simple it is to complete government forms, letters and other documents. The cloud version is just as straightforward and fully-featured, plus can be accessed more flexibly. Stop living in the past and automate your office with Easy HUD.
Government forms are designed to accommodate the most common situations and serve the needs of the greatest number of applicants but sometimes they fall short. Real estate professionals may find that the basic HUD forms don’t always cover more complicated transactions. RESPA rules address this issue by allowing filers to add supplemental pages to the basic form.
For example, the HUD settlement statement form has space for the name and address of a single buyer and a single seller but houses are often owned by multiple people. A couple, married or not, might want to have both of their names on the title or a group of friends might buy a house together to be roommates or as an investment. All the names can be listed on the form by including supplemental pages with the identities of the additional borrowers or sellers.
Another common source of addendum pages are the sections listing various fees associated with the transactions. Fees associated with the loan, items the lender wants paid in advance, title and additional settlement charges often have more individual line items than will fit on the HUD closing statement. These charges must be listed on attached supplemental pages to be considered as part of the property sale or refinance.
The problem with trying to use a solution such as a fillable PDF form is that agents cannot easily add more pages. The supplemental documentation can be generated independently but that creates the danger of the files becoming separated, creating an incomplete and inaccurate record of the transaction.
A better option is to use HUD settlement statement software with the capability to provide supplemental information. The entire document, including addendum pages, is printed at the same time and the case file keeps all the information together if it needs to be accessed later. Supplemental figures are added into the automatic calculations, ensuring that the totals on the form will be correct.
If you are a real estate agent, broker or other professional who needs assistance with HUD documents then you need to try EasyHUD, the real estate part of Easy Soft’s suite of legal practice management software. Simplify and automate your real estate practice to give you more time to find clients and complete transactions.