The most anticipated part of a Real Estate or mortgage transaction is being done with it. Closing is by nature the most complicated part of buying a home or refinancing a mortgage.
Tying together every loose end and officially sealing the deal involves coordinating dozens of documents and data that come from various sources, often triggering numerous follow-ups and manual tasks.
Above all, when time comes to close a transaction, it is often the homebuyer or borrower that ends up becoming the “quarterback” for chasing down documents, many of which may have previously shared with other parties such as their Real Estate agent or Mortgage agent earlier in the process. Combined, these factors make for a slow, stressful, and highly inefficient closing experience.
“It’s unimaginable how much effort and manual coordination goes into gathering all the documents needed to close on a home or mortgage. Dozens of emails, documents and faxes are flying around for each transaction. It’s grossly inefficient, unsecure, slows things down to a crawl. It’s a huge divergence from what today’s consumer expects. It puts them in a stressful situation, at a moment when they should be happy and excited”. says Reuven Gorsht, Co-founder and CEO at Deeded
At Deeded, our vision is to make the closing experience seamless, transparent, and affordable for all those involved.
We are excited to introduce new onboarding technology within our robust platform that effectively automates the process of collecting the necessary documents and data needed for closing a transaction. Leveraging artificial intelligence and machine learning, we are dramatically speeding up the closing process and reducing the inefficiencies that previously burdened clients, lenders, and real estate professionals.
“Homebuyers are increasingly looking for frictionless ways to simplify the home buying process, all the while having access to expert advice” said Gorsht.
“By automating the most inefficient parts of the process, we divert our efforts to better serving our customers, ensuring they have a seamless experience while drastically simplifying the process for everyone involved in the transaction” added Gorsht.
Customers who have recently experienced our virtual closing process have noted the immediate benefits of the new onboarding technology. Recent Toronto homebuyer Neil said “Working with Deeded made purchasing a home easy. They have excellent online systems for intaking the request and the signing process. Their responsive and clear communication made the transaction easy and provided reassurance in what can otherwise seem like a complicated process.”
“While we’re already seeing tangible progress in making the architecting the Real Estate transaction of the future, we’re continuing to relentlessly focus on making the closing experience frictionless, transparent and affordable. This is just one of many game-changing innovations we plan to introduce as we reimagine the Real Estate transaction” added Gorsht.1