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US 2013/0159166 A1Published application
Methods and Systems for Facilitating a Real Estate Transaction
OwnerRobert Graham Irickinventor
Life of this patent
Estimating the term…
Abstract
Methods and systems for facilitating the sale of real estate, including receiving assets to be held in an account, restricting the account so that at least a portion of the assets are disbursed from the account to the buyer or a lender only if a loss resale event occurs in which the real estate is resold by the buyer or lender for a loss within a specified period, and in response to determining that the loss resale event has occurred, disbursing the portion of the assets to the buyer or lender to at least partially remedy the loss.
Claims20
A method comprising:
- receiving assets to be held in an account, the assets associated with a sale of real estate from a seller to a buyer;
- restricting the account so that at least a portion of the assets are disbursed from the account to the buyer or a lender only if a loss resale event occurs in which the real estate is resold by the buyer or lender for a loss within a specified period;
- and
- in response to determining that the loss resale event has occurred, disbursing the portion of the assets to the buyer or lender to at least partially remedy the loss.
1 more element
A method comprising:
- determining an estimate of a market value of real estate;
- determining an estimate of a real estate owned (REO) value of the real estate;
- and
- determining, by a processor of a computer device, assets to be held in an account based at least in part on:
- the estimate of the market value of the real estate;
- the estimate of the REO value of the real estate;
- and
- a purchase price of the real estate paid by a buyer to a seller,
- wherein the assets are determined to protect the buyer if a loss resale event occurs in which the real estate is resold by the buyer for a loss within a specified period.
6 more elements
A method comprising:
- receiving from a buyer an offer to purchase real estate from a seller for a first value;
- determining, by a processor of a computer device, a second value greater than the first value based at least in part on:
- an estimate of the market value of the real estate;
- an estimate of the REO value of the real estate;
- and
- an amount of funds to be held in an account;
- and
- providing the second value for use in making a counter offer for the buyer to purchase the real estate for a purchase price equal to the second value subject to the amount of funds to be taken from the purchase price and to be held in the account, wherein the account is to be managed so that at least a portion of the funds is disbursed from the account to the buyer or a lender only if a loss resale event occurs in which the real estate is resold by the buyer for a loss within a specified period, wherein the portion of funds disbursed from the account is equal to or less than the loss.
5 more elements
A method comprising:
- receiving assets to be held in an account, the assets associated with lending from a lender to a borrower, the lending secured by real estate;
- restricting the account so that assets are disbursed from the account to the borrower or the lender only if a triggering event occurs within a specified period;
- in response to the occurrence of the triggering event:
- determining a portion of the assets to disburse based at least in part on:
- a sale price less than a value of the real estate determined at the time of the lending;
- or
- on an appraisal determining that the market value of the real estate is less than a value of the real estate determined at the time of the lending;
- and
- disbursing the portion of the assets to the borrower or lender.
6 more elements
Dependencies are inferred from the claim text.