To err is human; to really foul things up requires a computer. — Bill Vaughan
One of the core features of Easysoft’s HUD settlement statement software, Easy HUD, is the common data set. You enter information in one place and all documents generated by the program pull data from that central repository.
Enter the settlement agent’s name, address, phone number and TIN once and the HUD program automatically copies it to each new HUD 1 statement generated. Put in information on the client and the property, and the program populates the appropriate areas on the form with the case data.
The real time savings comes when you generate all the other paperwork associated with a real estate transaction. In addition to the HUD closing statement you have to produce contracts, deeds, correspondence and countless other documents. Each of these will pull information from the case data so you know the same data appears on every document produced by your office.
If that data is wrong then you are in trouble.
Computers do everything quickly: calculation, document generation, information storage…and propagation of errors. If you enter a misspelled name, a transposed property zip code or an inaccurate figure, then that information will immediately be copied to all forms. If you enter a figure ten times, then you have ten chances to make a mistake. If you enter it once then you have only one chance to mess up, but if you do then it appears wrong in ten places. This is why it is vital that you take the time to double and triple check all case information at the time of entry.
Easy HUD helps where it can. Automatic calculations ensure that the totals are right, as long as the original numbers are right. The built-in spell checker will find obvious errors but can’t tell you the client’s name is Smyth rather than Smith, and certainly can’t point out that the house sold for $248,000 and not $284,000.
Misspelling a client’s name sends the message you don’t care. Entering incorrect tax information may have the IRS knocking at your door. Whether the error is serious or merely embarrassing, it’s better off not to make the mistake in the first place. Take those extra seconds to verify information before closing a case file.
The right real estate and legal practice management software will catch more errors than it creates but computers aren’t a substitute for the human brain. Use Easysoft products to run your business efficiently, but always use your own judgment as well.