Patent ID: 7085735

Claim:
A method of electronically-managing the closing of a real estate transaction, including: registering with a closing server digital identifications of parties to a real estate transaction; the closing server repeatedly interacting with one or more of the parties to build a transaction database including a plurality of agreed closing conditions for the real estate transaction, wherein a closing condition includes, a legally binding statement of the closing condition, a designation of the closing condition as an active condition or a passive condition, a deadline for approving or disapproving the closing condition, and a selection from among the parties with registered digital identifications of an authorized party entitled to approve or disapprove the closing condition, wherein the closing server accesses a closing questionnaire database and presents a questionnaire to one or more of the parties; the closing server repeatedly interacting with one or more of the parties identified by one or more of the registered digital identifications and receiving an instruction to approve or disapprove one or more closing conditions; the closing server automatically determining that the designated active conditions that have not been approved by the deadline are breached and automatically determining that the designated passive conditions that have not been disapproved by the deadline are cleared; and closing the real estate transaction after all of the agreed closing conditions have been cleared.