Five Reasons Why Commercial Closing Attorneys Need Title Software

Real estate commercial closings are known for being unique and not as standardized as residential closings. Commercial closings can have its own specific requirements during escrow, document creation, and title insurance. The volume is also generally lower than purely residential closing teams would encounter.

For this reason, most commercial closing offices operate under the assumption that they don’t require the use of closing software. The logic is that closing software is something that primarily residential closers need since they have a more standard approach. And for many commercial closers, it’s difficult to justify the cost of closing software considering their low volume.

But, are these reasonings correct? Maybe not. In the latter half of this article, we’ll clarify why commercial closing software may be right for your business.

Here are 5 reasons why you should consider using commercial closing software:

Speed
1

There is an increased potential for volume – all real estate closings can, to an extent, be classified as a volume-based industry. The more volume you can safely accommodate – the more potential revenue. But, at some point, you become limited with the volume you can safely handle. By using closing software you allow your office to speed up the generation of closing documents and title documents.

Reduction of error
2

By automating standard documents, you reduce the risk of human error in document generation. By creating disbursements within a closing program, you allow the software to help track your balancing totals.

Fraud Prevention
3

By adding closing software, you’re safeguarding your funds with another layer of protection. Positive pay and Auto-Reconciliations will help you monitor possible fraud on both ends of the bank communications. This can allow you to differentiate yourself as a safer option than your competitors – not to your customers, but also with your Title Insurance underwriters.

Task Management
4

Every closing is a complex set of steps with each step requiring follow ups and deadlines before you begin the next task. How are you tracking that now? Post-it notes? Binders? Internal lists? By using closing software you can set up your own customizable workflows complete with automated reminders and next steps. Making your workflow work for you instead of the other way around. Give your team the ability to focus on the task at hand instead of trying to remember their to-do list.

Transparency with stakeholders
5

Commercial closings have many stakeholders and they all want to know what’s going on. Using closing software, that has a portal, will allow you to reduce incoming emails and phone calls by providing a more transparent user experience to your stakeholders. Put the time you’d normally spend giving updates to your customers back into working on the actual closing.

Now that we’ve discussed the benefits of using commercial closing software, here’s how SnapClose can help you. Not only can we add value in the above mentioned areas, but we can easily fit within your budget thanks to our month-to-month pricing structure.

We also have:

Automated document creation

You can input your own custom documents into your document library or let our team of industry experts code your documents for you and upload them to your personal library.

Task
management

Our task management will automatically let you know what’s due and what’s next. You can also create multiple workflows with reminders and automated steps.

Positive pay and Auto-reconciliation

Our positive pay and auto-reconciliation can be easily set up during on-boarding to protect your closings and speed your accounting.

Secure Document
Portal

Our included document portal will allow you to share file statuses, receive new orders, and share documents securely, all while being white labeled for your brand.

Commercial closing friendly cost structure

Our month-to-month pricing structure allows you to get the value of a closing software without having to pay a large sum up front.

We’re here to make your life easier. Sure, you could continue to work as you are now. But why ignore possible efficiencies. You could wash your clothes by hand, but you use a washing machine. You could manually do escrow accounting on paper, but you use a calculator. You could continue to do things the way you’re comfortable, but why not make things easier. And best of all, with no long-term contracts, you won’t be attached to us if you choose it’s not right for you.

Contact Us

For more information, or to speak to a sales representative, please contact us, or submit your contact information on the form.

support@snapclose.com

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