Interactive real estate contract and negotiation tool

• US 9,330,375 B2
• Filed: 10/16/2009
• Issued: 05/03/2016
• Est. Priority Date: 10/17/2008
• Status: Active Grant

• Current Assignee: MFTB Holdco Incorporated
• Original Assignee: DotLoop LLC (Zillow Group, Inc.)
• Inventors: Allison, Gregory Austin, Vorst, Matthew Allan
• Primary Examiner(s): Trujillo, James
• Assistant Examiner(s): MINA, FATIMA P
• Application Number:
  US12/589,099
• Publication Number:
  US 20100100522A1
• Time in Patent Office: 2,391 Days
• Field of Search: 707/805, 707/803, 707/736
• US Class Current: 1/1
• CPC Class Codes: G06F 3/023 Arrangements for converting discrete items of information into a coded form, e.g. arrangements for interpreting keyboard generated codes as alphanumeric codes, operand codes or instruction codes
• CPC Class Codes: G06F 3/038 Control and interface arrangements therefor, e.g. drivers or device-embedded control circuitry
• CPC Class Codes: G06F 3/0481 based on specific properties of the displayed interaction object or a metaphor-based environment, e.g. interaction with desktop elements like windows or icons, or assisted by a cursor's changing behaviour or appearance
• CPC Class Codes: G06F 40/166 Editing, e.g. inserting or deleting
• CPC Class Codes: G06F 9/451 Execution arrangements for user interfaces
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 50/16 Real estate
• CPC Class Codes: G06Q 50/167 Closing
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

Term negotiation can utilize centralized systems accessed via web interfaces for purposes such as mediation of communications between buyers and sellers, maintenance of a history of negotiations, and notification of parties regarding changes suggested during negotiation. Changes to terms proposed by parties using centralized systems can be stored in a data warehouse, potentially along with timestamp and identification information.

Claims

1. A computing device comprising a non-transitory non-volatile computer-readable storage device including instructions, which when executed by a processor of the computing device, cause the computing device to:

present, to a first user, a human-readable representation of an initial version of a virtual real estate transaction document comprising an editable field, wherein the virtual real estate document is an electronic representation of a corresponding physical real estate transaction document and visually similar to the physical real estate transaction document;

receive, from the first user, a first user-specified data element designated for insertion into the editable field of the virtual real estate transaction document;

create a first user record in a data store;

store in the first user record of the data store the first user-specified data element designated for insertion into the editable field of the virtual real estate transaction document;

restrict, in response to storage of the first user-specified data element, the first user from adding information to the first user record and authorize a second user to add information to the editable field of the virtual real estate transaction document;

apply a digital signature to a human-readable representation of a first modified version of the virtual real estate transaction document, the human-readable representation of the first modified version of the virtual real estate transaction document is based at least in part upon the initial version of the virtual real estate transaction document and the first user-specified data element, wherein the first user-specified data element visually presented in the editable field;

present, to the second user, the human-readable representation of the first modified version of the virtual real estate transaction document;

receive, from the second user, a second user-specified data element designated for insertion into the editable field of the first modified version of the virtual real estate transaction document;

create a second user record in the data store;

store, in the second user record in the data store, the second user-specified data element designated for insertion into the editable field of the virtual real estate transaction document in the second data record;

restrict, in response to storage of the second user-specified data element, the second user from adding information to the second user record and authorize the first user to add information to the editable field of the virtual real estate transaction document;

generate, in response to storage of the second user-specified data element, a notification for receipt by the first user that comprises a summary of changes made by the second user to the editable field of the first modified version of the virtual real estate transaction document;

present, to the first user, a human-readable representation of a second modified version of the virtual real estate transaction document that is based at least in part upon the initial version of the virtual real estate transaction document and the second user-specified data element, the second user-specified data element visually presented in the editable field;

based on receipt of a request for a document history, retrieve, from the data store, a set of records, the set of records comprising the first user-specified data element designated for insertion by the first user and the second user-specified data element designated for insertion by the second user; and

display the document history, the document history comprising the first user-specified data element received from the first user for insertion into the editable field of the virtual real estate transaction document, the second user-specified data element received from the second user for insertion into the editable field of the virtual real estate transaction document, a markup showing differences in corresponding data elements between records, and an indication of whether each data element was provided by the first user or the second user.

2. The computing device of claim 1, wherein the instructions further cause the computing device to refuse to store in the data store any user-specified data element designated for insertion into the editable field of the virtual real estate transaction document in response to receipt of an indication.

3. The computing device of claim 2, wherein the indication indicates that an identified user-specified data element designated for insertion into the editable field of the virtual real estate transaction document is a final user-specified data element.

4. The computing device of claim 3, wherein the instructions further cause the computing device to store a read-only version of the virtual real estate transaction document, wherein the read-only version of the virtual real estate transaction document comprises the final user-specified data element.

5. The computing device of claim 1, wherein the instructions further cause the computing device to authenticate at least one of the user-pecified data elements designated for insertion into the editable field of the virtual real estate transaction document.

6. The computing device of claim 5, wherein to authenticate at least one of the user-specified data elements designated for insertion into the editable field of the virtual real estate transaction document is based at least partially on user authentication credentials.

7. The computing device of claim 6, wherein the user authentication credentials comprise a username and a password.

8. The computing device of claim 6, wherein the user authentication credentials comprise the digital signature.

9. The computing device of claim 4, wherein the instructions further cause the computing device to create a physical real estate transaction document based at least in part upon the read-only version of the virtual document.

10. A method for editing virtual real estate transactional documents, comprising:

displaying a virtual real estate transactional document, the virtual real estate transactional document graphically displayed to appear visually similar to a corresponding physical real estate transactional document;

creating a first user record in a data store;

receiving, from a first user, a first data element for insertion into at least one editable field of the virtual real estate transactional document;

storing, in the first user record of the data store, the first data element;

subsequent to storing the first data element, restricting the first user from adding information to the first user record and authorizing a second user to add information to the at least one editable field of the virtual real estate transactional document;

applying a digital signature to a first modified virtual real estate transactional document, the first modified virtual real estate transactional document comprises the first data element visually presented in the at least one editable field;

displaying, for the second user, first modified virtual real estate transactional document;

in response to receiving an indication of acceptance of the second user, designating the first data element as a final data element and restricting the second user from adding information to the at least one editable field;

in response to not receiving the indication of acceptance of the second user, creating a second user record in the data store and receiving, from the second user, a second data element for insertion into the at least one editable field of the first modified virtual real estate transactional document;

storing the second data element in the second user record of the data store;

generating, in response to storing the second data element, a notification for receipt by the first user that comprises a summary of changes made by the second user to the at least one editable field;

displaying, for the first user, a second modified electronic version of the virtual real estate transactional document that comprises one of the second data element and the final data element in the at least one editable field;

when the virtual real estate transactional document comprises the second data element, receiving an indication of acceptance of the first user and designating the second data element as the final data element;

based on receiving a request for a document history, retrieving, from the data store, a set of records, the set of records comprising the first data element and the second first data element; and

displaying the document history, the document history comprising the first data element received from the first user for insertion into the at least one editable field, the second data element received from the second user for insertion into the at least one editable field, a markup showing differences in corresponding data elements between records, and an indication of whether each data element was provided by the first user or the second user.

11. The method of claim 10, further comprising authenticating each user.

12. The method of claim 11, wherein authenticating each user comprises using access credentials comprising a username and a password.

13. The method of claim 10, further comprising authenticating each of the first and second data elements.

14. The method of claim 13, wherein the digital signature comprises a first digital signature of the first user;

and

wherein authenticating each of the first and second data elements comprises at least one of (i) referencing login information for at least one user and (ii) one of referencing the first digital signature of the first user and reference a second digital signature of the second user.

15. The method of claim 10, further comprising authenticating each acceptance.

16. The method of claim 15, wherein authenticating each acceptance includes referencing login information for at least one user.

17. A method, comprising

accessing, from a data store, a virtual real estate transaction document;

presenting, to a first user, a human-readable representation of an initial version of the virtual real estate transaction document comprising an editable field, wherein the virtual real estate transaction document is a visually similar electronic representation of a corresponding physical real estate transaction document;

creating a first user record in the data store;

receiving, from the first user, a first user-specified data element designated for insertion into the editable field of the virtual real estate transaction document;

storing, in the first user record, the first user-specified data element designated for insertion into the editable field of the virtual real estate transaction document;

restricting, in response to storing the first user-specified data element, the first user from altering the first user-specified data element designated for insertion into the editable field of the virtual real estate transaction document;

applying a digital signature to a human-readable representation of a first modified version of the virtual real estate transaction document, the human-readable representation of the first modified version of the virtual real estate transaction is based at least in part upon the initial version of the virtual real estate transaction document and the first user-specified data element, wherein the first modified version of the virtual real estate transaction document is a visually similar representation of the physical real estate transaction document populated with the first user-specified data element;

presenting, to a second user, the human-readable representation of the first modified version of the virtual real estate transaction document;

creating a second user record in the data store;

receiving, from the second user, a second user-specified data element designated for insertion into the editable field of the virtual real estate transaction document;

storing, in the second user record, the second user-specified data element designated for insertion into the editable field of the virtual real estate transaction document;

restricting, in response to storing the second user-specified data element, the second user from altering the second user-specified data element designated for insertion into the editable field of the virtual real estate transaction document;

generating, in response to storing the second user-specified data element, a notification for receipt by the first user that comprises a summary of changes made by the second user to the editable field of the virtual real estate transaction document;

presenting, to the first user, a human-readable representation of a second modified version of the virtual real estate transaction document that is based at least in part upon the second user-specified data element, wherein the second modified version of the virtual real estate transaction document is a visually similar representation of the physical document populated with the second user-specified data element;

based on receiving a request for a document history, retrieving, from the data store, a set of records, the set of records comprising the first user-specified data element designated for insertion by the first user and the second user-specified data element designated for insertion by the second user; and

displaying the document history, the document history comprising the first user-specified data element received from the first user for insertion into the editable field of the virtual real estate transaction document, the second user-specified data element received from the second user for insertion into the editable field of the virtual real estate transaction document, a markup showing differences in corresponding data elements between records, and an indication of whether each data element was provided by the first user or the second user.