Method and system for managing and preparing documentation for real estate transactions

A system for facilitating a closing of a real estate transaction, the system comprising:

• a processor;
• and
• a memory operatively coupled to the processor, the memory having storage adapted to store real estate transaction information, and the memory having computer-executable instructions which, when executed by the processor, cause the processor to:
• receive, from a computer, real estate transaction information for the real estate transaction, wherein the real estate transaction information comprises:
• information identifying a first party to the real estate transaction, wherein the first party comprises a party obtaining a real estate loan from a lender at closing, and wherein the real estate transaction information comprises information related to a plurality of terms of the loan;
• store the transaction information in the memory in a virtual file;
• receive, from a computer, a first user input that includes a search criterion;
• search a plurality of the virtual files in the memory for the search criterion;
• output, to a computer, information of one or more virtual files satisfying the search criterion;
• receive, from a computer, a second user input that comprises an update to one of the one or more virtual files in the memory;
• update information in the one virtual file based on the second user input;
• preliminarily compile one or more electronic documents with at least some of the real estate transaction information;
• output, to a computer, the one or more preliminarily compiled electronic documents, wherein the output of the one or more preliminarily compiled electronic documents causes a display of at least a portion of the one or more preliminarily compiled electronic documents on a display screen for review by the first party;
• receive, from a computer, an electronic signature indicating approval of at least one of the preliminarily compiled electronic documents;
• receive, from a computer, a digital image of at least one ancillary document;
• and
• output, to a computer, electronic closing documents for the real estate transaction that comprise:
• said at least one ancillary document;
• and
• said preliminarily compiled at least one electronic document with an electronic signature.

A system for facilitating a closing of a real estate transaction, the system comprising:

• a processor;
• and
• a memory operatively coupled to the processor, the memory having storage adapted to store real estate transaction information, and the memory having computer-executable instructions which, when executed by the processor, cause the processor to:
• receive, from a computer, real estate transaction information for a real estate transaction, wherein the real estate transaction information comprises information identifying a first party to the real estate transaction and information identifying a property of the real estate transaction, wherein the first party comprises a party obtaining a real estate loan from a lender at the closing, and wherein the real estate transaction information comprises information relating to a plurality of terms of the loan;
• store the real estate transaction information in the memory in a virtual file;
• search a plurality of the virtual files in the memory for a search criterion in response to receiving a first user input;
• output, to a computer, information of one or more virtual files satisfying the search criterion;
• update information in one of the one or more virtual files based a second user input that comprises an update to the one of the one or more virtual files;
• compile one or more electronic documents to be used in the real estate transaction with at least some of the real estate transaction information;
• output, to a computer, said one or more compiled electronic documents, wherein the output of the one or more compiled electronic documents causes a display of at least a portion of the one or more preliminarily compiled electronic documents on a display screen for review by one or more parties to the real estate transaction;
• store, in the memory, data of a third user input that comprises an electronic signature indicating approval of at least one of said compiled electronic documents by a party to the real estate transaction,
• determine payment amounts to be made to one or more entities who are not a party to the real estate transaction;
• store, in the memory, a digital image of at least one ancillary document, and
• output, to a computer, electronic closing documents for the real estate transaction that comprise:
• said at least one ancillary document;
• and
• said electronic document with the electronic signature.