Real estate has always been a paper-intensive industry. Whether it is mortgage documents, appraisals, deeds or titles, the transactions produce a lot of paper and often require multiple parties — agents, mortgage brokers, buyers, sellers, appraisers, inspectors — to be in the same place at the same time for a closing.
Recently, however, the cloud-based platform Dotloop has been streamlining the process and taking the paper out of it. Dotloop is used by 3,000 real estate offices, some with as few as 10 people. It creates a virtual workspace where multiple parties can come together, reach an agreement and sign documents. It also allows an office’s manager to see and manage all current deals.
via Selling Real Estate, Without All of the Paper – NYTimes.com.
