When it comes to maximizing returns on the investor, you are either talking about mutual funds or real estate funds. This article focuses on real estate funds and with Easy Fund.
Easy Fund is a new application launched to make it more convenient and efficient for lawyers do their work. They get to manage the transfers securely, especially when it comes to real estate closing funds on the internet. This effectively reduces paperwork, such as bank drafts, couriers, direct deposits and certified cheques.
Of course, being its first launching, it would naturally gather praises and criticisms. It is best to start with praises, first.
Many professionals that are working as legal professionals find it very convenient and efficient. It will lessen their work on getting the cheques done, no more need for queuing in lines at the bank or even those time-consuming payout letters. These are the main points that Easy Fund was created in the first place. However, there is more to this new application than what has described above. When working in real estate, every transaction must be dealt with accordingly. Every client in this industry relies on the legal professionals to have their service fast, secure and at most accurate, especially when it comes to closings. Having the application will make your work at least more productive and less stressful.
The application is seen as a secure electronic portal, just like much other web-based money transfer system. But what makes this one different from much other transfer system is that this is designed for real-estate closings. It doesn’t matter whether the legal professional using the transfer system comes from a big or small law firm. It will help the creator of the system to update and make it better. They find it better to do it this way is because it will add more value to the interactions between the client and the law firm. So every lawyer handling real estate closings get to manage the closing funds without having to leave the desk. It even eliminates the most annoying tasks that can add stress when closing on time.
But others ask whether the money transfer system is needed.
This is because the system itself will ask home buyers to pay an extra of $148 to aid lawyers in closing their purchase transactions. Lawyers also need to register to the system, including the bank that will conduct the transaction. This must be the reason why it asks for some fee.
The system requires a participation fee of $67.80, and this has to be paid for every transaction. This amount is to be paid by the buyers. It can also be shared among sellers and buyers, too. Added to that, when the buyer’s lawyer acquires the funds from their client together with the mortgage lender, the money should be wired from her or his trust account to Easy Fund with additional charge of $80 from the bank, thus bring it to a total of $147.80 for the entire charge of the service.