Soft Design Real Estate Closing Software

Soft Design Real Estate Closing Software

Soft Design's recent release of its real estate closing system is a real contender for property settlement agents. The program has been around for years, but has just recently gone national, making it a viable tool in any jurisdiction. Surprisingly, this program still has a DOS interface, giving it a somewhat dated look, but its up-to-date features and accuracy more than make up for its lack of a pretty face.

Acknowledging that each practitioner has her own way of closing a deal, the program is designed to accommodate a wide variety of personal preferences in the program's setup. Once into the program, use is easy and streamlined, with clear, concise menus and options.

One particularly useful feature is lender codes. These codes, set up from the main menu, provide automated entry of lender information wherever necessary on the HUD-1 or 1A. Selecting the appropriate code fills in the correct information for the lender in the transaction, eliminating literally endless duplication of information for those who close loans for the same lenders on a regular basis. This information can also be hot-keyed throughout the data entry screen as necessary. Additional options allow for entry of the "regular" title company, surveyor, pest inspector and other cast members. Printing and previewing also occur from the program's main menu.

Another significant feature is the automated proration of realty taxes. Depending upon the allocation of the adjustment for the taxes -- reimbursement to Seller for taxes paid in advance, reimbursement to Purchaser for Seller's unpaid taxes, or proration of taxes between Seller and Purchaser -- the program can be instructed to create a check to pay taxes from the Settlement Agent's proceeds. The program operates on a calendar year, accurately counting days in a tax period. Prorations can be confusing and complex, as local practices and procedures prevail here, but Soft Design handles a variety of closing customs without a pause. Again, the program's DOS interface made the data entry somewhat disconcerting in that I couldn't see exactly where information I was entering would end up, but time and again it landed in the right spot on the HUD, so it's clear that the programming has been precise. Even better, Soft Design's software integrates information as necessary, making tax escrow deposit calculations painless by automating aggregate accounting adjustments and escrow analyses. One annoying chore was the allocation of charges to Sellers by the manual insertion of an "s" at the right line.

Soft Design knows that the proof of any settlement agent's software is going to be on that HUD-1, and therefore allows you to preview your work product. No changes can be made to the HUD from the view screen, and the screen shows the HUD without any graphical representations, but it does allow you to confirm that what you put in will be showing up on the right place on the form. The printed form can painlessly be produced on both regular and legal paper.

A final but significant feature of Soft Design's program is the reconciliation of the trust account. Data can be imported into Quicken, again eliminating duplicative data entry. However, Quicken is the only format for trust account reconciliation available, and given the vast number of other accounting packages for law offices, this seems to be an unnecessary limitation. Check printing is integrated into Soft Design, as is internal monthly reconciliation and reconciliation of trust account entries that do not originate on a HUD statement.

Program documentation is very well done, and Soft Design provides technical support not only for the use of the program but as a reference source for virtually any real estate question. Given the continuing nationalization of closing practices, this could be quite a resource for the smaller firm, being that the company provides answers within the manual as well as over the phone.

In all, I was surprised at how impressed I was with this DOS program. It is speedy and precise -- valuable features in any software program designed for a pressured law office. On the other hand, after years of WYSIWYG, it's hard to go back to the blue screen. The program's speed suggests that a Windows version is not a priority. I would like to see this program in a Windows version, but without sacrificing the excellent features and sooner rather than later.

Soft Design
(800) 295-5539
DOS

$649

Reviewed by Denise Ward, attorney, Grean & Ward, Port Chester, N.Y.

Oct/Nov '98 Issue

PROS
Fast and accurate. Excellent help.

CONS
DOS interface.

VERDICT
Surprisingly impressive; a real contender.