The transition to real-estate transactions raises the question of creating uniform norms and requirements for the system of documentation support for management activities that meet modern conditions. One of the modern security technologies is the virtual data room, which will be described in the article below.

How to effectively perform real estate transactions?

Modern technologies have made it possible to significantly expand development opportunities. In the field of real estate, where the level of competition is high, as well as the demands of customers, it is especially important to use new tools to improve the positioning of the business. When you plan to buy or sell an object of real estate, you think about the question of how the sale and purchase of an apartment goes. It should be recognized that each transaction is unique, and has its own nuances at all stages. The features of the transaction will depend on many factors.

Data room software is an integral part of the overall management process of an organization. Creating a document management system allows you to establish uniform rules for working with documents and their storage, which helps to improve the efficiency of work, the quality system, and the enterprise as a whole.

The best data room software providers for real estate transactions care about the effective interaction of employees, as well as:

    • tag system for organizing tasks and documents;
    • fixed order of statuses and the possibility of prioritization;
    • quick filtering of tasks by performers and participants.

What are the top three data rooms for real estate transactions?

The data room provider with storage of documents will simplify the access of a potential investor to information about the object of privatization, will help eliminate the corruption link that exists when receiving documents, will improve and increase competition, which in turn will increase the price of the object during the auction.

Among the top three data room software providers for real estate transactions are the following:

      1. iDeals.

iDeals software is able to conduct a survey of the activities of the selected automation object, its activities, and existing infrastructure based on available information obtained from various sources.

      1. Citrix ShareFile.

The virtual data room Citrix ShareFile is a product of Citrix Systems, a developer of cloud workspaces, which acquired ShareFile, a provider of collaboration solutions, in 2013.

      1. Intralinks.

Intralinks data room software provides uploading documents to the data room with no file size or number limits; they will be downloaded in seconds. But, the most important thing is the understanding of the danger by the user himself, the conscious use of the network, as well as the entry of his information into it.

The best data room providers mentioned above lay out the entire process of preparing a deal, drawing up documents, concluding a sale and purchase agreement, organizing mutual settlements, and registering rights to real estate. All stages of building a deal are shown in the step-by-step instructions for the seller and for the buyer of the real estate for the primary and secondary markets (a graphical interactive diagram of the instruction will open in a pop-up window via the link).