Electronic realty and transaction system and method therein
OwnerEva T. Klivington, Margit E. Klivingtoninventors
Life of this patent
Estimating the term…
Abstract
The electronic realty transaction system (ERTS) automates real estate processes and provides web-based accessibility to residential, commercial, and land markets. The system will provide a “one-stop-shop” for all real estate related transactions and will include a detailed tracking and history of customer transactions for the realtors. The system will provide the ability to charge, collect, and track payments for real estate related transactions. ERTS includes an electronic contract generator (ECG) that pulls information from multiple sources and automatically identifies end-user requests for services and ultimately enables a property request (i.e. contract) to be developed using auto populating techniques.
Claims31
A method comprising:
- providing a plurality of real estate listings of real estate properties to a user;
- receiving a selection from the user of a real estate listings of a particular real estate property;
- identifying parties and agents involved with a real estate contract for the selected listing;
- collecting and storing, online and in electronic form, transaction specific information for a real estate contract for one of the selected real estate listings, the transaction specific information including identities of parties and agents involved with the real estate transaction and a contract price for the real estate transaction;
- providing, in an electronic format, a real estate contract form;
- automatically populating, in a computer, the real estate contract form with at least some of the transaction specific information for the selected real estate listing;
- automatically generating online, in the computer, responsive to populating the real estate contract form, an electronic file corresponding to the real estate contract for the real estate transaction for the selected real estate listing;
- sending a notice of the generated electronic file corresponding to the real estate contract to parties and agents in a workflow for the real estate transaction;
- receiving a change of the electronic file corresponding to the real estate contract from one of the parties or agents involved with the real estate transaction;
- in response to receiving the change, changing a portion of the transaction specific information in the electronic file corresponding to the real estate contract;
- wherein only read access to the electronic file corresponding to the real estate contract is granted to at least some parties and/or agents in the workflow, and wherein read/write access to the electronic file corresponding to the real estate contract is granted to a buyer and a seller involved in the real estate transaction.
A method of developing via a web-based network a ratified contract for a real estate transaction for a particular real estate property and managing a workflow for the ratified contract, the method comprising:
- collecting, online and in electronic form from a plurality of files, transaction specific information for a real estate contract, the transaction specific information including a contract price for the real estate contract;
- automatically generating, online in a computer, an electronic file corresponding to the real estate contract for the real estate transaction by automatically populating a real estate contract form displayed via a computer with at least some of the transaction specific information from the plurality of files;
- changing a portion of the transaction specific information in the real estate contract;
- obtaining, online, approval of the real estate contract by a buyer and a seller in the workflow to provide a ratified contract,
- wherein only read access to the real estate contract is granted to at least some parties in the workflow,
- and wherein read/write access to the real estate contract is granted to the buyer and the seller.
An electronic contract generator for generating a contract for a paperless real estate transaction for a particular real estate property and managing a workflow for the contract, the electronic contract generator comprising:
- a processor coupled to a database and a plurality of client processors via a web based network in a client server arrangement;
- and
- software instructions that when installed and executing on the processor results in the processor:
- collecting, online and in electronic form from a plurality of files, transaction specific information for a real estate contract, the transaction specific information including a contract price for the real estate contract;
- automatically generating, online in a computer, an electronic file corresponding to the real estate contract for the real estate transaction by automatically populating a real estate contract form displayed via a computer with at least some of the transaction specific information from the plurality of files;
- changing a portion of the transaction specific information in the real estate contract;
- obtaining, online, approval of the real estate contract by a buyer and a seller in the workflow to provide a ratified contract,
- wherein only read access to the real estate contract is granted to at least some parties in the workflow,
- and wherein read/write access to the real estate contract is granted to the buyer and the seller.
Dependencies are inferred from the claim text.