One thing is true for real estate attorneys–closing on any property is a lot of legwork. From verifying information to collecting signatures and notarizing documents, it’s a long process. That’s why many are turning to software solutions.
With the right real estate closing software for attorneys, closing transactions can be streamlined, and even better, more secure. However, some programs in this niche are better than others. Here are some of the biggest things to look for.
It practically goes without saying–any well-designed business program should help simplify your job. That’s why it’s important to look for closing software that can be easily integrated into your current systems.
Moreover, the varying businesses you work with through the process will likely have different workflows, making it even more important that the solution you choose can adapt as needed. Start by looking at the programs you and your partners use every day and make sure the solution you choose can work with them, in tandem.
Due to the scheduling requirements involved, in-person meetings can be one of the most difficult parts of the closing process to manage. And while phone calls may seem like a convenient alternative, relying on them too heavily can be dangerous due to the security issues they can introduce.
While closing software doesn’t eliminate the need for in-person meetings, it should provide a way around it. Look for features that allow you to remotely connect with others involved with a sale for live notarizations, document sharing, or simply regular communication.
Streamlined Title and Escrow Processes
Like countless other real estate attorneys, there’s a good chance that you’re bogged down with title and escrow orders.
Today’s high-quality closing software should be able to simplify and streamline this process. Rather than rekeying information, most systems will automatically input it for you. You should also be able to create workflows (that can be edited) and assign tasks to other team members. With easy report generation and automated accounting features, you’ll save time without sacrificing quality or reliability.
Reliable Security Features
In the 2020s, real estate fraud has become more common than ever. In fact, attempted wire fraud plagued one-third of all real estate transactions in 2020. That’s why it’s important to prioritize the security of your processes.
Some of the best ways to fight back against scammers and fraudsters is to have consistent communication with other people and organizations involved with a sale, keeping a close eye on new contacts, and building a reliable process for every step of your real estate transactions.
The right technology should also help in your efforts to keep all information and money secure. Specifically, look for real estate closing software that can verify payoffs and send/receive wire info with an added layer of protection.
The Importance of a Full Tech Stack
Real estate closing software for attorneys should improve efficiency, fit into current software ecosystems, and help maintain communication within the closing process. However, none of these features can come at the expense of security. In fact, reliable security functionality is key to having a holistic real estate closing process–one that ensures the safety of your clients. That’s where Closinglock comes in.
Closinglock is designed to protect title companies, attorney offices, and their customers from wire fraud without making it harder for your clients. By using the Closinglock platform, you’ll be able to safely send and receive wire info, along with sharing and signing electronic documents without requiring clients to register for an account or download an app.
With Closinglock your customers can rest assured their information and money are secure.
To learn more about protecting real estate transactions from wire fraud, contact Closinglock today at (512) 270-3917.