Abstract:
A method of selecting, acquiring, financing and insuring property with the assistance of an organization includes a customer communicating with the organization for assistance in selecting a property item. The customer further communicates with the organization for being financed for the property item by the organization. In addition, the customer communicates with the organization for being insured for the property item by the organization.

Description:
BACKGROUND  
         [0001]    The disclosures herein relate generally to acquiring and protecting property and in particular, to a method of locating, acquiring, financing and insuring property.  
           [0002]    The purchase of major property items such as real estate and automobiles is very time consuming and requires coordinated inquiries with regard to locating the desired property, acquiring and financing the property, and insuring the property. Typically, the search for the property is initiated by a potential buyer, alone or with assistance. A bank or financial institution is then approached to look at qualifying is and financing the potential buyer. An insurance company is also approached to inquire about rates, either as a newly insured or as an add-on.  
           [0003]    All of the foregoing requires vast amounts of time on-line, on a phone, via fax or in-person consultations.  
           [0004]    It would be advantageous to be able to accomplish each step of this process dealing with only one party, or organization, capable of providing all of the buyers needs, thus obviating the need to coordinate with multiple parties.  
         SUMMARY  
         [0005]    One embodiment, accordingly, provides a method of acquiring property with the assistance of a single source. A user communicates with an assisting party for assistance in selecting a property item. The assisting party also finances and insures the property item.  
           [0006]    A principal advantage of this embodiment is that the assisting party is a financier and insurer of the property item in addition to helping the buyer locate and select the property item. 
       
    
    
     BRIEF DESCRIPTION OF THE DRAWINGS  
       [0007]    [0007]FIG. 1 is a diagrammatic view illustrating a known scenario for purchasing, financing and insuring a major property item.  
         [0008]    [0008]FIG. 2 is a diagrammatic view illustrating an embodiment of a method of acquiring, financing and insuring a major property item.  
         [0009]    [0009]FIG. 3 is a chart view illustrating an embodiment of a method of acquiring, financing and insuring a vehicle.  
         [0010]    [0010]FIG. 4 is a chart view illustrating an embodiment of a method of acquiring, financing and insuring a home.  
         [0011]    [0011]FIG. 5 is a diagrammatic view illustrating an embodiment of a system for acquiring property via the Internet.  
         [0012]    [0012]FIG. 6 is an embodiment of a screen shot for a website to assist a user in buying, financing and insuring an automobile vehicle.  
         [0013]    [0013]FIG. 7 is a flow chart illustrating steps in a method of buying, financing and insuring the vehicle.  
         [0014]    [0014]FIG. 8 is an embodiment of a screen shot for a website to assist a user in buying, financing and insuring a home.  
         [0015]    [0015]FIG. 9 is a flow chart illustrating steps in a method of buying, financing and insuring the home. 
     
    
     DETAILED DESCRIPTION  
       [0016]    Present day purchasing of a major property item, FIG. 1, includes a system  100  requiring that a purchaser  110  intending to buy property  120 , may do so by accessing information at  130 , in person, by phone, fax, mail or on-line on the Internet. The purchaser  110  must also access information from a financing source at  140 , an insurance source at  150  and a supplier of the property at  160 .  
         [0017]    A more ideal situation provides for purchasing a property item, FIG. 2, through a system  200 , wherein a purchaser  210  intending to buy property  220 , may do so by accessing information at  230 , also in person, by phone, fax, mail or on-line on the Internet. This can be accomplished with the assistance of a single source  240  which may be an organization providing assistance in selecting, acquiring, financing and insuring the property  220 . That is, the single source  240 , which may also be a membership organization, assists in the selection and acquisition of the property from a supplier, and also becomes the financier and insurer of the property  220 .  
         [0018]    In the instance where the property item is an automobile, FIG. 3, the single source, at  300 , acts as an assisting party in the buying  310 , financing  320  and insuring  330 , phases of an acquisition. During the buying phase  310 , the assisting party assists the purchaser in determining the value of any current vehicle that may be available for trade-in purposes. The assisting party assists the purchaser in the selection of a new vehicle, in the location of that vehicle, and the price negotiation for that vehicle right up to taking delivery of that vehicle.  
         [0019]    During the financing phase  320 , the assisting party assists the purchaser in determining and calculating financing options such as a loan, a lease or a balloon note. The assisting party assists the purchaser in the application process and pre-approval for the loan, lease or balloon note options.  
         [0020]    During the insuring phase  330 , the assisting party assists the purchaser in determining an insurance quote for a selected vehicle, helps them obtain new or add-on coverage and also offers a credit life insurance option to the purchaser. The major advantage is that the assisting party is the financier and the insurer, not merely an agent arranging for a third party financier or insurer.  
         [0021]    In the instance where the property item is a home, FIG. 4, the assisting party assists, at  400 , in the buying  410 , financing  420  and insuring  430  phases as an acquisition.  
         [0022]    During the buying phase  410 , the assisting party assists the purchaser in determining whether they should rent or buy, if qualified, and if so, assistance is provided in locating a real estate agent, if necessary.  
         [0023]    During the financing phase  420 , assistance is provided in calculating affordability, down payment and loan payment. Assistance is provided in checking mortgage rates and terms and whether the purchaser is a qualified buyer. Assistance is also provided in applying for a mortgage and mortgage approval.  
         [0024]    In the insuring phase  430 , assistance is provided in providing insurance quotes, purchasing homeowners or renters insurance and purchasing mortgage life insurance. The major advantage is that the assisting party is the mortgagor and the insurer, not merely an agent arranging for a third party mortgager or insurer.  
         [0025]    Also, additional assistance is provided in purchasing a home security system at  431 , and an appliance warranty at  432 , however, such additional coverage is provided through a third party company.  
         [0026]    In one embodiment, FIG. 5, information is accessed by means of a computer system  500  accessing a website  502  of the assisting party via the Internet  504 . The computer system  500  includes a microprocessor  501 , which is connected to a bus  503 . Bus  503  serves as a connection between microprocessor  501  and other components of computer system  500 . An input device  505  is coupled to microprocessor  501  to provide input to microprocessor  501 . Examples of input devices include keyboards, touchscreens, and pointing devices such as mouses, trackballs and trackpads. Programs and data are stored on a mass storage device  507 , which is coupled to microprocessor  501 . Mass storage devices include such devices as hard disks, optical disks, magneto-optical drives, floppy drives and the like. Computer system  500  further includes a display  509 , which is coupled to microprocessor  501  by a video controller  511 . A system memory  513  is coupled to microprocessor  501  to provide the microprocessor with fast storage to facilitate execution of computer programs by microprocessor  501 . It should be understood that other busses and intermediate circuits can be deployed between the components described above and microprocessor  501  to facilitate interconnection between the components and the microprocessor.  
         [0027]    The website  502 , FIG. 5, may offer a menu  600 , FIG. 6, for purchasing a vehicle. The menu  600  may offer the ability to build and purchase a vehicle at  602 , to estimate the value of a used vehicle at  604 , to finance the vehicle at  606 , and to insure the vehicle at  608 . The website may be offered by a membership organization requiring a user password to log on, or may be a commercially available website.  
         [0028]    A flowchart for purchasing the vehicle is designated  700 , FIG. 7, and begins with a log on to the website at  702 , which may or may not require membership access and a password, at  704 . It may be desired to determine the value of a current or used vehicle at  706 . The new vehicle is selected, the price negotiated and delivery arrangements are determined at  708 . The customer then considers finance options and terms at  710 . A loan application is completed at  712  and is approval is provided at  714 . The customer requests an auto insurance quote for the vehicle at  716 , and purchases new or updates existing auto insurance at  718 . Also, if desired, credit life insurance may be purchased at  720 . The transaction is ended at  722 . Each service, i.e., buy, finance and insure, is provided through the assisting party who not only provides assistance to the customer in locating and purchasing the vehicle, but the assisting party is also the financier and insurer of the vehicle.  
         [0029]    The website  502 , FIG. 5, may offer a menu  800 , FIG. 8, for purchasing a home. The menu  800  may offer the ability to find and buy a home at  802 , to finance the home at  804 , and to insure the home at  806 .  
         [0030]    A flowchart for purchasing the home is designated  900 , FIG. 9, and begins with a log on to the website at  902 , which may or may not require membership access and a password or pin number at  904 .  
         [0031]    The customer may inquire about renting or buying at  906 . A real estate agent may be located at  908 . The customer considers finance options at  910  and the various options are calculated and presented. A loan application is completed at  912  and approval is provided at  914 . The customer requests an insurance quote at  916 . Homeowner&#39;s insurance may be purchased at  918  and optional mortgage life insurance may be purchased at  920  if desired. The transaction is ended at  922 . Each service, i.e., buy, finance and insure, is provided through the assisting party who not only provides assistance to the customer in locating and purchasing the home, but the assisting party is also the mortgagor and insurer of the home.  
         [0032]    Although illustrative embodiments have been shown and described, a wide range of modification, change and substitution is contemplated in the foregoing disclosure and in some instances, some features of the embodiments may be employed without a corresponding use of other features. Accordingly, it is appropriate that the appended claims be construed broadly and in a manner consistent with the scope of the embodiments disclosed herein.