MOBILE SYSTEM AND METHOD FOR PROCESSING REAL ESTATE TRANSACTIONS

• US 20070219818A1
• Filed: 03/16/2007
• Published: 09/20/2007
• Est. Priority Date: 03/17/2006
• Status: Abandoned Application

• Current Assignee: Mobile Title LLC
• Original Assignee: Sun Title Agency Of Michigan LLC
• Inventors: Cronkright, Thomas W., Duthler, Lawrence R.
• Application Number:
  US11/687,464
• Publication Number:
  US 20070219818A1
• Time in Patent Office: Days
• US Class Current: 705/45
• CPC Class Codes: G06Q 10/06 Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 50/167 Closing

Abstract

A mobile system and method are provided for closing real estate transactions remotely. A mobile closing unit (24), which is included in a housing (20) having a satellite or wireless antenna (48), includes a printer (28) connected to a router (40) having a wireless card (84) for connecting to a wide area network (100) and power switch (76). An office network (36) stores transaction documents relating to a real estate transaction and a subsequent transaction. While in route to or at the remote closing location, the mobile closing unit (24) connects to the office network (36) over the wide area network (100), and prints the documents. The real estate transaction is conducted at a remote closing location, and the executed transaction documents are sent over the wide area network (100) to the office network (36). The housing (20) is moved to a subsequent location and the mobile closing unit (24) connects, while in route to or at the subsequent location, to the office network (36) over the wide area network (100), and prints the documents. The subsequent transaction is conducted at the subsequent location, and the executed transaction documents are sent over the wide area network (100) to the office network (36).

Claims

1. A method for processing real estate transactions, comprising the steps of;

preparing transaction documents for a first transaction and a second transaction at an office location having an office network;

storing electronically on the office network transaction documents for said first transaction and said second transaction,

providing power to a mobile closing unit included in a housing, said mobile closing unit including a printer connected to a router having a wireless card for connecting to said office network through a wide area network, and a power switch for controlling power to said mobile closing unit,

receiving from said office network over said wide area network and at a location remote from the office location said electronically stored transaction documents relating to said first transaction,

printing on said printer and at a location remote from the office location said transaction documents relating to said first transaction,

executing the transaction documents related to the first transaction at a first location,

scanning said executed transaction documents relating to the first transaction at a location remote from said office location and sending said transaction documents over said wide area network to said office network,

moving said housing from said first location to a second location and said mobile closing unit receiving at a location remote from said office location transaction documents relating to said second transaction,

printing on said printer and at a location remote from said office location said transaction documents relating to said second transaction,

executing said transaction documents relating to said transaction at said second location, and

scanning said executed transaction documents relating to said second transaction at a location remote from said office location and sending said executed transaction documents relating to said second transaction over said wide area network to said office network.

2. The method of claim 1, further comprising receiving at said first location funds from a party to said first transaction, after said step of printing said transaction documents relating to said first transaction.

3. The method of claim 2 further comprising depositing funds received from a party at said first location into an account at a financial institution by scanning and sending said funds over said wide area network.

4. The method of claim 2, further including depositing from said first location said funds into an escrow account by scanning said funds at said first location and transmitting said funds from said first location to said first escrow account via said wide area network.

5. The method of claim 1 wherein, said mobile closing unit further includes a computer having a direct connection to said router.

6. The method of claim 5, further including the step of using said computer at said first location to make edits to said transaction documents relating to said first transaction.

7. The method of claim 6 wherein said step of using said computer to make edits to said transaction documents relating to said first transaction further includes the steps of accessing the electronically stored documents on the office network over said wide area network, and editing the electronically stored documents to create edited transaction documents.

8. The method of claim 7 wherein said step of using said computer to make edits to said transaction documents relating to said first transaction further includes the step of printing said edited transactions documents.

9. The method of claim 8 wherein said step of printing edited transaction documents further includes the step of receiving from the office network over said wide area network said edited transaction documents.

10. The method of claim 9 further including the step of printing the received edited transaction documents at a location remote from the office location.

11. The method of claim 1 further including the steps of contacting at the office location a person authorized to edit transaction documents and editing the transaction documents by the authorized person, said authorized person sending to said printer located in the mobile closing unit said edited transaction documents.

12. The method of claim 11 further including the step of printing at a location remote from the office location the edited transaction documents.

13. The method of claim 12 wherein said edited transaction documents are said documents that are executed at the first location, said method further including the step of printing new checks for at least one party involved in the real estate transaction in view of the edits to the transaction documents.

14. The method of claim 13 further including the step of receiving lender approval of the edited transaction documents before said step of printing new checks.

15. The method of claim 12 further including the step of destroying a check that was printed with said transaction documents relating to the first transaction.

16. The method of claim 12 wherein said mobile closing unit further includes a dedicated check printer and said new checks are printed on said dedicated check printer.

17. The method of claim 1 further including the step of editing said electronically stored transaction documents on said office network relating to one of said first and second transactions and transmitting said edited transaction documents to said printer.

18. The method of claim 17 further including the step of receiving approval of the edited transaction documents from at least one lender.

19. The method of claim 18 further including the step of receiving a funding number from said lender said funding number approving disbursement of funds for at least one of said first and second transactions.

20. The method of claim 18 further including the step of editing said electronically stored transaction documents on said office network relating to one of said first and second transactions and providing to said printer said edited transaction documents, without moving said mobile closing unit from one of said first and second locations.

21. A method for processing real estate transactions, comprising the steps of;

preparing transaction documents for a plurality of transactions at an office location;

storing electronically on an office network said transaction documents for said plurality of transactions;

receiving at a location remote from said office location, while en route to a transaction, or at said first location, said first location being remote from said office location, transaction documents relating to a first transaction of said plurality transactions, said transaction documents relating to said fist transaction being received from said office network over a wide area network;

printing said received transaction documents relating to said first transaction;

executing said transaction documents relating to said first transaction at said first location;

scanning said executed transaction documents relating to said first transaction and sending copies of said scanned documents over said wide area network to said office network,

moving a mobile closing unit capable of printing and scanning documents from said first location to a second location remote from the office location;

executing transaction documents related to a second transaction at said second at said second location remote from said office location, and

scanning said executed transaction documents relating to said second transaction at a location remote from said office location and sending said documents over said wide area network to said office network.

22. The method of claim 21 further including the step of receiving said transaction documents relating to said plurality of transactions and wherein said transaction documents relating to said first transaction are received as part of said plurality of transaction documents.

23. The method of claim 21 wherein said mobile closing unit includes a master power switch and when said master power switch is turned on all of said transaction documents relating to said plurality of transactions are received and printed by the mobile closing unit at a location remote from said office location.

24. The method of claim 23 wherein said mobile closing unit is in transit to a location remote from said office location when said transaction documents are printed.

25. The method of claim 23 wherein said mobile closing unit is stationary at a location remote from said office location when said transaction documents are printed.

26. The method of claim 23 wherein said plurality of transaction documents do not include transaction documents for the second transaction and wherein said transaction documents for the second transaction are provided to the mobile closing unit subsequent to receiving said transaction documents relating to said plurality of transactions.

27. The method of claim 26 wherein said transaction documents relating to said second transaction are printed at a location remote from said office location and after printing transaction documents relating to a third transaction.

28. The method of claim 21 wherein at least one of said transaction documents relating to said plurality of transactions is edited after said mobile closing unit is in transit to a transaction location where a transaction relating to said edited transaction document will be executed and wherein said at least one edited transaction document prints on said printer before said mobile unit arrives at said transaction location.

29. The method of claim 21 further including the step of editing on said office network said electronically stored transaction documents relating to one of said plurality of transactions and sending said edited transaction documents to a printer within the mobile closing unit.

30. The method of claim 29 further including the step of obtaining lender approval of the edited transaction documents wherein said step of obtaining lender approval includes the step of forwarding the edited transaction documents to the lender for approval, and receiving approved transaction documents or verification that the transaction documents have been approved from the lender.

31. A mobile system for processing real estate transactions, comprising:

an office network at an office location including electronically stored transaction documents relating to a plurality of real estate transaction, including at least a first real estate transaction and a second real estate transaction,

a housing including a mobile closing unit that includes a printer, a router having a wireless card for connecting to said office network through a wide area network and a connection to said printer, and a power switch for controlling power to said mobile closing unit, wherein

said mobile closing unit automatically connects, while remote from said office location, to said office network via said wide area network to download and print said transaction documents relating to at least one of said first and second transactions and wherein said mobile closing unit is in communication with said office network during transit to one of said first and second locations as well as at least one of said first and second locations.

32. The mobile system of claim 31 wherein said mobile closing unit automatically connects from a first location to said office network via said wide area network to download and print at said first location said transaction documents relating to said first transaction, and as said housing moves from said first location to a second location and automatically connects to said office network to download and print at said second location on said printer said transaction documents relating to said second transaction.

33. The mobile system of claim 32, wherein said mobile closing unit further includes a computer having a direct connection to said printer and wherein said computer is used to edit a document stored on said office network, and said edited document is downloaded to said printer at said mobile closing unit for printing.

34. The mobile system of claim 32, wherein said mobile closing unit further includes a magnetic check scanner connected to said router.

35. A method for processing real estate transactions, comprising the steps of,

storing electronically on an office network at an office location transaction documents for a transaction,

providing power to a remote mobile closing unit included in a housing, said mobile closing unit including a printer connected to a router having a wireless card for connecting to said office network through a wide area network,

receiving from said office network over said wide area network said electronically stored transaction documents relating to said transaction while said mobile closing unit is in transit to a transaction site remote from said office location, and

printing said transaction documents relating to said transaction on said printer while in transit to said transaction site.

36. The method of claim 35 wherein said step of receiving from said office network is automatically performed once said power switch is turned on, allowing documents to be received remotely from the office location, even when the mobile closing unit is in transit to a transaction location.

37. The method of claim 35 wherein said step of printing said transaction documents is automatically performed once said power switch is turned on, allowing document to be received remotely from the office location even when the mobile closing unit is in transit.

38. A method for processing real estate transactions, comprising the steps of;

automatically receiving and printing transaction documents relating to a real estate transaction on a printer connected to a router having a wireless card for connecting through a wide area network to a remote network that stores said transaction documents, wherein said receiving and printing occur while said printer and said router are in transit from a first location to a second location or at said second location, and

executing said transaction at said second location.

39. A method for processing real estate transactions, comprising the steps of;

storing on an office network at an office location transaction documents for a first transaction and a second transaction,

providing power to a remote mobile closing unit included in a housing, said mobile closing unit including a printer connected to a router having a wireless card for connecting to said office network through a wide area network, and a power switch for controlling power to said mobile closing unit,

automatically receiving and printing from said office network over said wide area network said transaction documents relating to said first transaction while said mobile closing unit is remote from said office location, in transit to a first location, or at said first location

executing at said first location said first transaction,

moving said housing from said first location to a second location

automatically receiving and printing transaction documents relating to said second transaction without visiting said office location, and

executing at said second location said second transaction.

40. A method for processing real estate transactions, comprising the steps of:

storing electronically on an office network title closing documents, lender closing documents, shipping labels, and checks for a first transaction and a second transaction,

providing power to a mobile closing unit at a first location, said mobile closing unit contained in a housing having an antenna and including a computer having a connection to a magnetic check scanner, a printer, and a router having a wireless card for connecting to said office network through a wide area network, said router including a first connection to said printer and a second connection to said computer, and a power switch for controlling power to said mobile closing unit,

receiving at said first location from said office network over said wide area network said title closing documents, lender closing documents, checks and labels relating to said first transaction,

printing on said printer said title closing documents, lender closing documents, said shipping labels, and said checks relating to said first transaction,

executing at said first location said title closing documents and said lender closing documents relating to said first transaction,

receiving at said first location funds from a party to said first transaction,

scanning at said first location said executed title closing documents and said executed lender closing documents relating to said first transaction and sending said executed documents over said wide area network to said office network,

storing said executed documents on said office network,

depositing from said first location said funds into an escrow account by scanning said funds at said first location and transmitting said funds from said first location to said first escrow account via said wide area network,

copying at said first location said executed title closing documents and said executed lender closing documents relating to said first transaction,

distributing a copy of said executed title closing documents and said executed lender closing documents to a plurality of parties involved in said first transaction,

reviewing said executed title closing documents and said executed lender closing documents relating to said first transaction,

authenticating said funds,

moving said housing from said first location to a second location,

said mobile closing unit receiving at said second location title closing documents, lender closing documents, and labels relating to said second transaction,

printing on said printer said title closing documents, said lender closing documents, said labels, and said checks relating to said second transaction,

executing at said second location said title closing documents and said lender closing documents relating to said second transaction,

scanning at said second location said executed title closing documents and said executed lender closing documents relating to said second transaction and sending said executed documents over said wide area network to said office network,

copying at said second location said executed title closing documents and said executed lender closing documents relating to said second transaction,

distributing a copy of said executed title closing documents and said executed lender closing documents to a plurality of parties involved in said second transaction,

reviewing said executed title closing documents and said executed lender closing documents relating to said second transaction.