Isn’t it great to be able to track the packages being sent to us, track the distance we run during our workout, track our phones in case we misplace them, and track how many calories we’ve eaten? TrustFunds adds one more thing to the list of conveniently tracked items: earnest money payments.
In the current real estate sales process, buyers are left guessing once they submit their paper earnest money check to their agent. The check, which displays their personal banking information, is handled by many parties over several days before the buyer and agent may receive confirmation that the check has been deposited to the proper trust account. In order to determine the status of their payment, the buyer needs to contact their agent who may even need to contact others and even then, may not be able to determine the status.
When earnest money payments are made using TrustFunds, the guess work and the paper check are eliminated. TrustFunds tracks the earnest money payment from beginning to end, supplying time stamps at each check point (similar to the way FedEx tracks their packages). This way, the buyer’s agent and the the seller’s agent, along with the trust account holder can view the status of the payment at any time.
We track our spending through online banking, the steps we’ve taken through a Fitbit, and our sleeping patterns through a health app, so why should we be left guessing when it comes to the status of our earnest money payment? Ditch the paper check and use TrustFunds. Enjoy the peace of mind knowing the status of the earnest money payment through every stage of its processing.