How Deeded is transforming the real estate closing process

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Lagging communication among the multiple parties involved can cause closing delays, and uncertainty over the status of a deal – all common headaches for brokers and borrowers alike – and those pain points were top of mind for Deeded as the company set out to radically streamline the closing process.

A technology firm that connects users with a range of real estate lawyers for a fully transparent virtual closing experience, Deeded is described by its CEO Reuven Gorsht as “the operating system for closing,” aimed at providing full visibility and peace of mind for brokers and clients throughout the latter stages of the transaction.

The company’s platform is a model that Gorsht said mirrors the approach of appraisal management companies, giving users almost instant access to relevant professionals to help push the deal along and ensure a smooth, painless closing.

“With appraisal management companies, you basically place an order, put in some basic information, and then the company connects you with an appraiser and manages that whole cycle,” he told Canadian Mortgage Professional.

“So in parallel, that’s essentially what we’ve done for the legal and closing side. From a broker perspective, a broker can start a client’s closing with a few clicks. Deeded connects the client and broker with one of the great lawyers in their network within minutes, and the broker and client can track progress in Deeded’s app and always knows what’s next. Deeded helps manage all the steps along the way right to the finish line, funding.”

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