Set up Real Estate Matter Tags

For LiraDocs in Kenya, you can implement a similar approach to manage real estate matters with customized Matter Tags tailored to local practices. Here’s a guide on setting up Real Estate Matter Tags for Kenyan real estate transactions:

Kenyan Real Estate Matter Tag Examples

1. Types of Transactions:
   • Cash Transaction
   • Mortgage Financing
   • REO (Real Estate Owned)
   • Short Sale
   • Foreclosure
   • Leasehold
   • Freehold
2. Status or Critical Dates:
   • Contract Signed
   • Inspection Completed
   • Appraisal Contingency
   • Mortgage Contingency
   • Rate Lock Confirmed
   • Clear to Close (CTC)
   • Transfer Duty Paid
   • Land Registration Completed
3. Property Types:
   • Condominium
   • Single Family Home
   • Mixed Use
   • Townhouse
   • Farm/Land
   • Plot
   • Commercial Property
4. Buyer/Seller Status:
   • Buyers
     • First-time Buyer
     • Investor
     • Cash Buyer
   • Sellers
     • Relocation
     • Estate Sale
     • Divorce Sale
     • Foreclosure Sale
5. Sale Process:
   • Attorney Review / Inspection Complete
   • Subject to Finance
   • Clear to Close
   • Deposit Paid
   • Title Search Ordered
   • Loan Approved
   • Agreement of Sale Signed

How to Assign or Edit Matter Tags in LiraDocs

1. Within an Open Matter:
   • Click on the tag icon at the top right of the matter window.
   • Choose from predefined Staff Tags or Custom Tags to add to your matter.
2. Edit Tags:
   • After adding a tag, you can always click to Edit Tags and select additional tags from default options or custom ones you create.
3. Filter by Tags:
   • Use the filter on the home screen to organize and view matters based on selected tags for easy management and reporting.

Popular Tags for Real Estate in Kenya

• Sell: Cash Deal, REO, Short Sale, Leasehold, Title Search Ordered, Transfer Duty Paid
• Buy: Mortgage Financing, First-time Buyer, Cash Buyer, Land Registration Completed, Clear to Close

Tips for Implementing Matter Tags in LiraDocs:

• Organize by Property Type: This is particularly useful when handling both residential and commercial properties, ensuring easy differentiation in your workflow.
• Track Critical Dates: Use tags like Clear to Close and Transfer Duty Paid to stay on top of important milestones in a transaction.
• Buyer/Seller Specific Tags: These can help differentiate the types of clients you are working with, such as Investor or Relocation.

By setting up these Real Estate Matter Tags in LiraDocs, you can enhance organization and efficiency while maintaining a smooth flow of documentation and communications specific to the Kenyan real estate market.