When the real estate team is closing transactions that involve lenders, borrowers, investors, diligence officers, buyers, and sellers, attention to even the smallest detail is essential. Regardless of the deal size, the process can be challenging to navigate due to this rapidly changing legal environment that spans multijurisdictional issues.
4 Major Pain Points in Real Estate Transactions
Controlling Due Diligence
Reviewing large, disorganized sets of documents requires tailored permissions for all deal participants to maintain confidentiality.
Identifying signers is time-consuming when dealing with numerous lenders, borrowers, and investors. Creating and tracking signature pages takes even more time away from higher-priority work.
Creating Custom Closing Books
When multiple parties and properties are involved, there are hundreds of documents and different versions of closing books that need to be made and delivered to each stakeholder.
Legal teams lose billable time when manually updating closing checklists and circulating updates to deal participants through email, conference calls, and in-person meetings.
Run a Perfect Real Estate Deal
Convert the manual, tedious process of managing transactions into a secure collaborative workspace with Litera Transact.
Whether you are working on secured or unsecured lending, commercial developments or investments, acquisitions or dispositions—Litera Transact can help you efficiently manage the entire process from due diligence to closing.
Remove approximately 70% of the steps in the deal process, which reduces write-offs and allows legal teams to focus on higher-value work.
Centralized diligence and closing checklists make it easier to communicate with all parties by providing real-time updates.
Save 60–80% of time spent managing the signature process and create large closing book sets in minutes.
Protect clients’ information by sharing documents within a secure platform and ensure collection of all final executed documents.