As a real estate professional, you want to maximize your profits. However too many businesses focus on increasing revenue while forgetting the other half of the equation: reducing expenses. If you can reduce your costs on each transaction, you make more money with every settlement you are part of. One way to cut costs is to find better way to track a property’s mortgage lien release.
Real estate buyers tend to believe that a transaction is done once they sign the papers or once the check clears. Settlement agents know the real conclusion is when the mortgage lien attached to the property’s existing mortgage has been released. Once that happens, the buyer has free and clear title to the property.
Unfortunately the release of mortgage lien doesn’t always occur quickly. Buyers trust their real estate agents to follow up on any post-closing paperwork, and tracking the lien is one of those duties. If the lien doesn’t release quickly, the agent must waste time following up with the lenders. Your time is valuable so when you waste them then you waste money, drive up costs and cut your profits.
The problem is that tracking one mortgage lien is not an effective use of time. It doesn’t take much longer to investigate ten liens or a hundred liens than it does to research one. Wouldn’t it be better to turn that task over to a service that specializes in mortgage lien release tracking? Yes it would.
Easy Soft’s lien release tracking service does the work for you. We keep an eye on any liens attached to a property and let you know as soon as the release of mortgage lien occurs. What’s even better is that this service costs you nothing. Yes, we said nothing. How can we make money if we don’t charge anything? Actually we do charge $35 per lien, but that is a cost you pass through to your client.
How to you use the service? It’s pretty complicated so follow closely: you open EasyHUD, pull up the client’s HUD-1 form and click a button. Phew–done. Okay maybe it’s slightly more complicated that than, but not much. Most of the information will be pulled from the client file so you just have to fill in a couple of additional fields, but that’s about all there is to it.
Find out more about how we can help you run your real estate practice more efficiently by automating processes. EasyHUD and our other legal software programs are designed to address the needs of legal and real estate professionals quickly, simply and affordably.