Power Closer real estate closing software is designed for attorneys, title companies and others who provide residential settlement services. This software package produces high-quality settlement documents, quickly and easily.
An on-line help system and User Guide are included, but most people rarely need them. Power Closer follows the standard Windows interface and it's both powerful and extremely easy to use. Take a few minutes to run the demo and see for yourself.
The following documents are printed directly by Power Closer:
This closing software package works with any Windows compatible printer--laser, ink jet, or dot matrix. Laser printers require 2MB. The documents produced are good-looking and professional in appearance.
Power Closer performs these monetary calculations, any of which can be overridden if needed:
When the settlement date, sale price, loan disbursement date, loan amount or interest rate change, then each appropriate calculation screen is automatically re-presented. Each screen shows a recalculation for confirmation or adjustment. Prorations, loan payoffs, loan origination fee, loan discount, interim interest and transfer fees automatically recalculate.
Power Closer saves data continuously as you enter it, so you do not need to remember to manually save anything.
Template files let you pre-set any data on the settlement statement. Create new closings or templates by copying from any template or closing. You can create as many templates as you need.
Power Closer's word processing software interface provides the right kind of tool for producing all your other closing documents:
A single screen in Power Closer simultaneously (1) prints multiple copies of Power Closer documents, (2) exports word processing merge data and (3) exports monetary data to your accounting system.
Power Closer works closely with several third-party accounting software systems, and includes these features for trust accounting and check production:
Closing templates can set up how HUD-1 line items are to be combined or split to produce disbursement checks. They also set up how a check to the lender is to be reduced by the funds retained by the lender who provides net funding. In templates, an item can be split by flat amount or by percent to produce new checks, or the resulting items can be combined into existing checks. The resulting checks and deposit items appear on the Balance Sheet, from which you could produce checks manually, and that information is passed through to bookkeeping software by the bookkeeping interface.
When you are ready to close (or on request), Power Closer displays a checklist warning you of up to 24 different types of missing or inconsistent closing data. More data-entry features are described next.
A 'file open picklist' allows locating a file based on the partial name of the borrower. For example, enter JO to see all open files where the borrower last name begins JO. The file open picklist shows filenames, borrower names, seller names and first lines of property addresses.
Data entry for buyer and seller names includes individuals, couples, partnerships, corporations and trusts. Multiple and alternate signatories are no problem. This includes combinations of up to 18 parties with up to 28 signatories.
Use the lookup pick list to select previously entered descriptions, names and addresses; no need to re-type. This includes multiple addresses for branch banks, broker offices, and multiple officer and agent names of banks and brokers.
Power Closer maintains a 'File Status' for every closing. The file status of a closing is one of the following:
The File Status incorporates these other features:
When entering closing dates, access the Windows Calendar with one keystroke or mouse click. When doing calculations, access the Windows calculator. Copy data between other Windows programs and Power Closer using standard copy and paste functions.
Enter reminder memos by HUD line number for any closing or template. Mark any memo 'active' or 'inactive.' Active memos automatically display when opening a file or template.
The Database Manager provides closing file reports sorted by closing date, by buyer/borrower name, or by file name. The report shows closing status, buyer/borrower name, seller name, first line of property address and lender name. The Database Manager also finds user-entered text in property addresses and legal descriptions, searches for user-entered text in party names, and searches by tax ID number.
The DB-Manager utility program that comes with Power Closer Standard and Power Closer 2-User Site can move old closings from the database to an archive, and can also move them back into the database, by date range. It stores the archived closings in Power Closer's native .CLO format, which is the same format used for the "Copy Closing To/From disk" feature.
You can use Windows File Search feature to do full-text searches on the archived .CLO closing files (to locate closing or title files, for example).
An entry level system, Power Closer Jr., is available without the interfaces to word processing and accounting. Other separately available modules include IRS Annual Report Program (electronic file), annual upgrades and multi-user network support.
Compare features, price, performance and ease-of-use to Blackacre, dLegal, Doubletime, EasySoft, First Data, Landtech, Ramquest, REESA, SoftPro, Standard Solutions, Sulcas, Teamwork, Technovation, etc.
Power Closer real estate closing software can make your life easier. Do a
couple of closings using the demo program and see for yourself.
See also: Powercloser
4 for the 2010 HUD-1