123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Legal >> View Article

Mismanaged Trust Accounts Can Sink Your Real Estate Business

Profile Picture
By Author: Easy Soft
Total Articles: 278
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

People new to the real estate industry are often surprised to discover that the sale or purchase of property is only one small part of the overall job. There is a tremendous amount of administrative support required for each transaction, none as important as trust fund accounting .
 
When you receive money to be disbursed to other parties such as another real estate agent, the government or a home inspection agency, you need to be certain that every penny listed on the HUD settlement statement form ends up where it needs to go. And when we say "every penny" we mean that literally. If you misplace even a cent out of hundreds of thousands of dollars then you could be subject to serious penalties.
 
You may think that it's not that complicated. You simply look at the amounts list on HUD forms and pay accordingly, right? That might be true if you are handling one client, but any successful real estate professional has multiple deal in the works at one time. Agencies that ...
... employ multiple agents might process dozens of sales in a day. All of that money is being funneled through a single trust account, and if the money from Mr. Smith ends up paying expenses for Mr. Jones then you have a problem.
 
HUD settlement statement software helps you keep track of all the various charges associated with a given transaction including taxes, fees and commissions. It simplifies the process of completing this long and complicated form and takes care of everything from spellchecking to arithmetic. Unfortunately it doesn't track your trust transactions.
 
That is unless you use HUD software that integrates with trust software. That's why our products Easy HUD and Easy Trust are designed to work together. Export your ledger from Easy HUD for quick import into Easy Trust and you can effortlessly track all your trust transactions. You can view each client's balance and transactions within your trust account separately, ensuring that all the money is accounted for and all the necessary fees are paid.
 
This kind of integration is the kind of attention to detail you can expect from Easy Soft legal practice management software . Visit our website to find out more about how our software simplifies your real estate or legal practice, leaving you more time to service clients.

Total Views: 189Word Count: 398See All articles From Author

Add Comment

Legal Articles

1. The Benefits Of Hiring A Collective Bargaining Attorney In Nyc
Author: indexblogger

2. Interview Waiver For Us Visa Renewal - Everything You Need To Know
Author: Hardik Shah

3. Dui Lawyer Dinwidde Va
Author: Dui Lawyer Dinwidde VA

4. The Evolution Of Content Marketing For Law Firms: Trends And Innovations
Author: jamewilliams

5. Top 5 Reasons To Hire A Labor Lawyer In New York City
Author: indexblogger

6. Bail Lawyer In Cyber Crime Case – Advocate Deepak: Your Trusted Legal Expert
Author: Advocate Deepak

7. Best Cheque Bounce Lawyer In Delhi
Author: SACHIN KASHYAP

8. How Solar Companies Are Reshaping The Investment Landscape
Author: precize

9. Budgeting For Your Uk Business Trip: Visa Fees And Expenses
Author: The SmartMove2UK

10. How To Choose The Best Ssd Attorney Near Me For Success
Author: ADVAN

11. Common Mistakes To Avoid When Applying For A Sponsor Licence
Author: Amir hsuen

12. Insurance Attorney In Dubai
Author: The Law Reporters

13. The Psychology Of Persuasion In Legal Marketing: Influencing Client Behavior And Decisions
Author: jamewilliams

14. Your Gateway To Uk Business: Guide To Uk Business Visas
Author: SmartMove2UK

15. Iim Bangalore, Iit Madras Release Joint Report On India’s Evolving Startup Incubation Landscape
Author: Dev kumar

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: