REALPRO INNOVATIONS REALPRO PLUS User manual

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REALPRO Innovations, Inc.
PORTABLE
REAL ESTATE/LENDING COMPUTER SYSTEM
Manual
Copyright©1985-2005
REALPROInnovations,Inc.
AllRightsReserved

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Contents
PREFACE ................................................................................................................................................................ 4
BENEFITSOFFERED BYTHEREALPROPLUS™ PORTABLE COMPUTER SYSTEM .......................................... 4
Ona listingpresentation .................................................................................................................................... 5
Asthe listing agent ............................................................................................................................................ 5
Workingwithhome-buyers ................................................................................................................................6
Workingwith buyerswhoare renting ................................................................................................................. 6
Whenholdinganopenhouse ............................................................................................................................. 6
OPERATINGYOURREALPROPLUS ..................................................................................................................... 7
Toinputinformation ............................................................................................................................................ 7
To calculateaninput .......................................................................................................................................... 8
To printor viewyour answers ............................................................................................................................. 8
To resetyourREALPRO PLUSprogram ............................................................................................................ 8
To enterthedate ................................................................................................................................................ 9
REALPROPLUSPROGRAMS ................................................................................................................................9
Financing ........................................................................................................................................................... 9
BuyersFees ...................................................................................................................................................... 9
SellersNet ......................................................................................................................................................... 9
Amortization .................................................................................................................................................... 10
Prequalification ................................................................................................................................................ 10
BuyingvsRenting ............................................................................................................................................ 10
Refinance ........................................................................................................................................................ 10
Disclaimer/Setup ............................................................................................................................................. 10
Personalizingthe Disclaimer .............................................................................................................................11
To printyour Disclaimer ............................................................................................................................. 13
To change one or more linesofthe Disclaimer ......................................................................................... 13
Customizingthe Setup .................................................................................................................................... 13
PrintSetup ................................................................................................................................................ 13
ChangeInformationinSetup ...................................................................................................................... 14
CAREANDMAINTENANCE OF YOURREALPROPLUS™ COMPUTER ............................................................. 16
Repairof thecomputer screen ......................................................................................................................... 16
CAREOFYOURPRINTER .................................................................................................................................... 16
PaperJam ....................................................................................................................................................... 16
To replacetheprinterpaper .............................................................................................................................. 17
Installingthepaper ........................................................................................................................................... 17
Powerforyourprinter ....................................................................................................................................... 17
Batteries ................................................................................................................................................... 17
Adapter ..................................................................................................................................................... 17
TROUBLESHOOTING ........................................................................................................................................... 18
Icannot loweror changethedownpayment ...................................................................................................... 18
Thescreen is completelyclear ........................................................................................................................ 18
Thecomputer’s screen islight ......................................................................................................................... 18
Assumablemortgages ..................................................................................................................................... 18
ERRORMESSAGES ............................................................................................................................................. 18

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Error1 ............................................................................................................................................................. 18
Error2 ............................................................................................................................................................. 18
Error7 ............................................................................................................................................................. 18
Error8 ............................................................................................................................................................. 19
DESCRIPTIONOFKEYS ...................................................................................................................................... 19
DESCRIPTIONOF THE DISPLAY ......................................................................................................................... 20
GLOSSARYOFTERMS ........................................................................................................................................ 21
FUTUREPROGRAMUPDATES ............................................................................................................................ 39
CHANGEOFADDRESS ........................................................................................................................................ 39
CHANGEOFOWNERSHIP ................................................................................................................................... 39
CHANGEOFADDRESS OROWNERSHIPFORM ................................................................................................ 40
INDEX .................................................................................................................................................................... 41

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REALPROPLUS™
PORTABLE
REAL ESTATE/LENDING COMPUTER SYSTEM
Copyright©1994-2005
REALPROINNOVATIONS™,Inc.
AllRightsReserved
PREFACE
Congratulations on your purchase of the REALPRO PLUS™ complete portable computer system. Our software
programswere createdspecifically foractivereal estatebrokers andagentsand representativesof loancompaniesfor
usein their everydaybusinessactivities.
Usersof these programs will havetheability to produce and printthedesired financial data and calculationspertinent
to the real estate and lending business, with the touch of a finger, and in a matter of moments!
You will find that the utilization of our system will save you countless hours of tedious paperwork, enhance your
professionalimage, impress your clientsand increase yourproductivity.
REALPROInnovations, Inc.would like tothank thethousandsof REALPRO userswho havecalledus tomakehelpful
suggestions.Yourfeedback hasbeeninvaluable inupdatingand enhancingourproduct.
IMPORTANT!!
PLEASEbesuretoreadthefollowing manualBEFOREoperatingyourREALPRO PLUS. Byreading theseinstructions,
youwillobtain the maximum benefits from your computer system.
BENEFITS OFFERED BYTHE REALPRO PLUS™ PORTABLE
COMPUTERSYSTEM
TheReal Estateand LendingProfessionsare basicallyinformation andservicebusinesses. Thereason customerswill
choose to have you represent them is simple. They like you, they trust you and they recognize that you can and will
servicetheir particularneeds betterthananother agent whoalsowantstheirbusiness.Your REALPRO PLUS system
will impress your clients, adding the important dimension that you are equipped with the best tools to serve them.
Someof the benefitsofyour REALPRO PLUS are:
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√ Instant service and information to your clients enabling them to make the intelligent decision to buy or to
sellwithYOU.
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√ Allows you to stay in the “selling cycle” with your clients, while at the same time getting the vital financing
informationno matterwhere youare.
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√ Increased accuracy.Takes the “guesswork” out ofthefigures.
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√ Saves you and your client time throughcomputer prompting preprogrammed informationandprintout.
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√ Relieves stress incalculatingwith accuracy and makes a relaxed presentation possiblewithyourclients

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√√
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√ Enhances your professional image. You have the “RealEstateTools” others don’t have.
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√ Gives you a competitive edge. Be “different and better” than your competition.
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√ You have the Confidence which tells your clients you can handle any questions relating to Real Estate
Finance.
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√ Knowledge -a“working” knowledge of the “options”availabletoyour clients when buying &/or selling.
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√ Credibility - Legible, tangible, professional “printouts” of the information you and your clients need to make
buyingand sellingdecisions.
ONALISTING PRESENTATION
1. Beginby using theAMORTIZATIONPROGRAMtofind thepayoff figureforthe seller’sexistingloan(s), if any,
that are currently owed on the property. By getting the original loan amount, the interest rate and number of
monthspaidon the loan,youcan SHOW the sellerswhat they currentlyoweagainst the property.They will be
impressedandyoucanthenusetheseimportantfigurestocompletetheSELLER’SNETprogramandtakethe
listing contract back to youroffice.
2. Compute the seller’s net proceeds using the SELLER’S NET program to SHOW the seller the “bottom line”
informationbased onsales price,whatis owedagainst theproperty,allof thecostsof saleincludingbrokerage
feeandloandiscountpoints(ifany).Youwon’t“forget”anyoftheimportantcostsofthesalethatcanmisrepresent
the“bottom line”figure becausetheREALPRO promptsyou tocovertheindividualcostsinvolved. MULTIPLE
COPIES CAN BE MADE FOR THE REALTOR’S FILEAS WELLAS FOR THE SELLER’S.
3. SHOW theseller thefinancingfor ahypotheticalbuyer (Conventional,VAorFHAloanwhichever is morelikely
orall three!)andthe closing costsfortheloan.Youcan then begintoexplain howyouwill targetthepopulation
that will be qualified buyers for their home. Again only you will have demonstrated your ability to handle
prospectivebuyersneeds, as well as, the needsoftheseller.
NOTE: Running the financing and closing costs at the seller’s suggested sales price is particularly important
especiallyiftheir suggested price is higher than themarketwill bear!Youwill have the “SOLD comparables”,
nowrerunning the seller’snet at thereal“market value”pricerange will enable themtobecome morerealistic
andgives them a betterunderstandingof the total marketingoftheir home.
4. TELL yourseller about thevalueof offeringsellerfinancing (“owner willcarry-back(OWC)”) and SHOW them
thefinancialadvantages of carrying a note. For example:afullyamortized 30 year loan with a 5 yearballoon
paymentusingtheAMORTIZATIONPROGRAM.
AS THE LISTINGAGENT
1. Onceyouhavethelistingcontract,youcanusethePREQUALIFICATIONPROGRAMwheneveryoureceivea
purchasecontracttopresenttotheseller.Whetherthey arebuyers youhave securedor thosewho areworking
withanother Realtor, it will beveryimportant to SHOW the sellerthatthe buyers are well qualifiedtobuy their
home.Thesetapescan playavitalpartin the presentationofan offer.
2. When presenting an offer, you will be able to rerun the SELLERS NET program to SHOW the seller, in print,
exactly what the actual purchase contract means: That important “bottom line” information so that they are
ableto makean intelligentandinformed decisionwhether toacceptor counterthe offer. Thiswillbe avaluable
time-saverforyou because the presentationof the figures is so easilyunderstoodbythe seller.

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WORKING WITH HOME-BUYERS
1. You can begin to work with your buyers immediately by running the PREQUALIFICATION PROGRAM to
determinetheloan details and sales price range for whichtheyarequalified. This assures that you will begin
SHOWING yourbuyers propertiesthatthey canafford. KNOWINGyour buyers“PriceRange” atthestart will
allowyou to focus onmeetingtheirother property qualifications.
2. As you begin to preview properties, run the FINANCING PROGRAM and BUYERS COST to SHOW your
clientsthemonthly payments, as well as theclosingcosts on each of the propertiesthatseemto be potential
homesforpurchase. This information is available for your clients onthespotand, of course, to you, so that a
purchasecontract can bewritten at theproperty(if possible)oroutside in yourcarwhile theemotionsare high
andyour buyersare readytomake acommitment. Thisinformationcan bepresented, alongwiththe pictureof
thehome andtheamenities, enablingyourbuyers tomake that importantand intelligent decisionto purchase.
This is especially helpful for your clients when several homes are under consideration and they are having
difficultycoming to a decision.
WORKING WITH BUYERS WHOARE RENTING
Beginbyusing thePREQUALIFICATIONPROGRAM. Onceyouhave foundtheprice rangeandloanforwhichtheycan
qualifyand havedisclosed thedown paymentand monthlypayment,etc.,goon tothe BuyersCosts programtoSHOW
themtheir itemized coststo completethetransaction. Now, usetheBUYING vs. RENTINGprogram and SHOW them
their monthly tax savings, property tax savings, principal paid down monthly on the loan and a conservative monthly
appreciation.In comparisontheeffective costof homeownership isoften LESS thanwhat theyarepresently payingfor
rent!
WHEN HOLDINGAN OPEN HOUSE
An excellent time to SHOW your potential clients the service and information that is the heart of your business is
DURINGanOpen House. Peopleyoumeet there areprospectivebuyers and sellersandit is upto you to qualifythem
asclients and discovertheirneeds:
1. Even before the day of the Open House, prepare brochures/flyers on the home, including several financing
options,byrunningtheFINANCINGandBUYER’SCOSTSprograms. Attachtheseprintoutstotheflyerbefore
theyare printed.This information canthenbe customized foreachvisitor at theOPENHOUSE. You canalso
PREQUALIFYthehouseforwhatincomewouldbeneededtopurchase. YourprospectscanSEEforthemselves
if they are in the price range that fits.
2. Runthe
PREQUALIFICATIONprogramandquicklyshowyourprospectsthepricerangeandpaymentsinvolved.
Ifthey qualify for the houseyouare showing, see if itwouldmeet their needs. SHOW them theirclosingcosts
throughtheBUYER’SCOSTprogram.Ifthey arelooking inadifferentpricerange,SHOW them theirpayments
andthe closing costsinvolved and earn therightto be their REALTORor LENDER.
3. Perhaps, your prospects will need to sell their present home in order to purchase a new home. Run the
SELLERS NET to SHOW them what they might expect to “net” from the sale of their home and, how much
couldbeusedforthedownpaymentandclosingcosts on their new home.
4. Giveinformation toyour prospectsthat arecurrentlyrentingbyrunning theBUYING VS.RENTING programto
SHOWtheadvantagesofhomeownership.

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OPERATINGYOUR REALPROPLUS
The following is a list of available programs and the key you must press to “call up” the program for use:
PROGRAMNAME PROGRAMKEY
FHALOANS pressFINANCING
VALOANS pressFINANCING
CONVENTIONALLOANS pressFINANCING
ASSUMPTION* pressFINANCING - Conventional
PREQUALIFICATION pressPREQUALIFICATION
BUYERSCOSTS pressBUYERSCOSTS
SELLERSNET pressSELLERSNET
AMORTIZATION pressAMORT/APR
QUICKAPRCALC. pressAMORT/APR
BUYINGVSRENTING pressBUYINGvsRENTING
REFINANCE pressREFINANCE
DISCLAIMER pressDISCLAIMER/SETUP
SETUP pressDISCLAIMER/SETUP
*ALL(includingVAand FHA) assumptionsare donethroughthe ConventionalFinancing program!!!!
TO INPUT INFORMATION
NOTE: Eachprogram hasbeen designedforease-of-use. The inputquestion willappearon theleft-side ofthescreen
andthe default answerwill appear ontheright side ofthe screen in<> brackets. Some inputquestions will pauseand
move to the end of the question. This may take some getting used to but imagine this as one long line that wrapped
aroundto the nextline. Youcan changeeitherthe % or$ amount atthistime even thoughyou may onlybeable to see
the$amount.
* If the answer displayed iscorrect, simply pressthe[ENTER] key.
* Iftheanswer is not correct foryourtransaction, simplyinputthecorrectanswerand pressthe[ENTER]key!
Sometimes the question will repeat and sometimes it will just go on to the next question.
1. AMOUNTS: Salesprice,interest rates, number of years for termofloan,etc. should consist of combinations
of the digits Ø to 9 only! (For example: if the interest rate is 8.5%, simply input 8.5. If there is no monthly
homeownersassociation fee,input Ø.)
2. YESOR NO?WhenthecomputerdisplaysaY/N,press[YES]or[NO],whicheveris appropriate. Donot press
the [ENTER]key afterpressingthe [YES] or[NO] keys because thiscan cause youtoskip thenextquestion.
3. “AUTOMATIC OR DEFAULT ANSWERS”: Both amounts and Y/Ns will be “displayed” (in brackets < >) for
youthroughout each program.You mayaccepttheseanswers by pressing the [ENTER] key once.Ifyou find
the “automatic or default answer” displayed is not accurate for your area or transaction, you can change the
amountto fit yourneeds.
4. INPUT MISTAKES: If youaccidentallyinputthewrong amount and:
* You
havenot pressed the [ENTER] key, press thered[C-CE] key and reenter thecorrectamount
OR
* Ifyou
have pressedthe[ENTER]keyafterinputtingthewrongamount,youmustbeginthe programagain.
It is not necessary to complete the program before you can begin again. Many of your answers will be
retained so it is just a matter of pressing [ENTER] until you return to the question you missed.

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TO CALCULATEAN INPUT
Any calculations that relate to the question on the screen during a program can be done on the screen using the four
function keys located in the right most column of the number pad. DO NOT USE THE [=] key! Instead, use the
[ENTER] key to complete a calculation. Many, but not necessarily all, calculation results will be displayed in < >
bracketsfor verification. Press [ENTER] again tomoveto the next question.
Key Function
[÷] Division
[×] Multiplication
[-] Subtraction
[+] Addition
1. Input your calculation. Example: TAXABLE INCOME. If husband and wife are employed, you can add their
monthlyincomes together. e.g. 3500+2000 [ENTER].
2. The answer will appear on the right hand side of the display screen in < > brackets.
• DONOT usethe percent sign or the equal sign(=)whenfiguring calculations.
• If you input a calculation incorrectly, the computer will not accept the information and will give you an
ERROR1message. If this happens, press the [CA] keyandbeginyour program again.
Remember: you cannot leave a function sign at the end of a calculation. For example 2400+1200+.
TO PRINT OR VIEW YOURANSWERS
Onceyou have entered all of therequesteddata into a program, yourREALPRO PLUS isreadyfor you to PRINT the
calculations. You will know this when your computer asks PRINT Y/N?
NOTE: You will also havean opportunity to print when your REALPRO PLUS asks1=ENTR 2=PRNT. Keep in mind
though,thatyouMUSThavealreadyruntheprogrambeforeaskingittoprint. (Some userswant torun theFINANCE
programand then simply choose PRINTfor the BUYERS COST program. This will not givethe BUYERS COST
program the chance to calculate the proper answers. Please step through the BUYERS COST program
before printing. If you then want a second copy, choose 2 for PRINT.)
A. To PRINT oneor multiple copies:
Pressthe[YES] keywhenthemessagePRINT Y/N? appearsonyourscreen. Ifyouwantadditionalcopies,repeat
thisprocedure whentheprinter stopsoryou willalsohave anopportunity to printwhen your REALPRO PLUS
asks1=ENTR 2=PRNT. Keep inmindthough, thatyou MUSThavealreadyrunthe programbefore askingitto
print.
B. To VIEWtheprogramanswers(REFINANCEprogram only):
Pressthe [NO] key whenthemessage PRINT Y/N? appearsonyour screen. Press the [YES] key whenthe
messageVIEWY/N? appearsonyour screen. Press [ENTER] tovieweach answer onyourscreen. You will
thenbe given anotherchanceto choose PRINT Y/N.
TO RESET YOUR REALPRO PLUS PROGRAM
YourREALPRO PLUS program needs to beRESET fromtime to time.
When you receive your REALPRO PLUS, the program has been reset and the defaults loaded. If you remove your
REALPRO PLUS programcard or you receiveanew one, youwillneed to RESET thecomputer.
Ifyou receive anERRORmessage that cannotbe cleared, youcanreset your program. Ifthishappens, pleasereport
this to REALPRO. We will make the necessary changes to the program so that this doesn’t happen again.

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To RESET:
1. Removethecomputer fromthe printer.
2. Turnthecomputer powertoON.
3. Turn the computer over. You will see a hole that says, “ALLRESET”.
4. Using a pointed object, such as, a pencil or open paper clip, poke the button inside the hole. (Sometimes a
penorpencilwill not work because the point is not long enough.)
5. Look at the screen now and you should see ** **. Press [ENTER].
(If you do not see the “stars” on the screen, you need to poke the hole again. Be sure your pointed object is
longenough to reachthebutton inside.)
6. You will see one * “star”.
7. Turnyourcomputeroff.
8. Slideyour computerbackon to theprinter. Be surethatthe computerisflat totheprinter. Whenyoulook from
theside, there should be nogapbetween the computer and theprinter.
9. Whenyoubeginyour nextprogram,waitapproximately40 secondswhilethedefaultsare loaded. Theprogram
will begin DISPLAY SPEED 1,2,3 <1>. Choose your speed at this time, 1 is the slowest, 3 is the fastest.
10. If you hadyourprogram customized byREALPRO,thenthose defaults arenoterased. If you made changes
toyour SETUP orDISCLAIMER, you will needtoreenter this information.
TO ENTER THE DATE
Youwillbeprompted toENTER orChangethecurrentdate. At theprompt DATE<> typethenumbers forthe date. The
slash marks will be entered for you. For example, for September 10, 1999, type 091095 ENTER. You will see DATE
<09/10/95>. If this date is not correct, reenter the correct date.
REALPROPLUSPROGRAMS
FINANCING
The FINANCING program contains ALL of the FHA, VA and Conventional loan programs - Fixed, Adjustable, and
Buydown. Your REALPRO PLUS knows the maximum loan amounts and minimum down’s. It knows your MIP’s,
PMI’s, VAFF, MMI and when they are appropriate. By choosing the FINANCING key and answering the following
questions, your REALPRO PLUS will calculate the important information you need when working with a client. The
information contained in the FINANCING program answers the questions: what is my PITI payment, what is my loan
amount,what is my downpayment?
BUYERS FEES
TheBUYERS COSTS program containstheinformationfor calculatingthecost oftheloan. You muststep through the
buyers cost program inorder calculate the information. You cannot simply PRINT. The buyers costs includethe loan
fees, title fees, prepaid items and miscellaneous costs. These costs are printed out when requested. The zero
answers do not print. If you want these costs to print, go to the SETUPprogram and choose PRN 0 VALUES <Y>.
SELLERS NET
TheSELLERS NET program containsALLofthequestions pertinentto listingaproperty orfor calculatingthe netsheet
duringthe presentationofanofferontheproperty. TheSELLERS NET programcalculates MIPrefund,discount points
paid by the seller, as well as, what the seller will net after paying costs. By choosing the SELLERS NET key and
answering the following questions, your REALPRO PLUS will calculate the important information you need when
working with a Seller. The information contained in the SELLERS NET program answers the questions: if I list my
property with you or if I accept this offer, what will I net, what will my costs be?

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AMORTIZATION
TheAMORTIZATIONprogramcontainstheFHA,VAand Conventionalloan amortizationinformation. Bychoosingthe
AMORTIZATION key and based on themonthspaid, loanamount,termand interest rate, your REALPRO PLUS will
calculatethe InterestPaid,PrincipalPaid,TotalPaidand BalanceDue. The AMORTIZATIONprogramalsocalculates
principal paydown and negative amortization. You can solve for the months paid while making a principal paydown.
Finally, youwillbeable to solve fortheloan amount based on interestrate,term and payment. Youcan also calculate
aquickAPRthroughtheAMORTIZATIONprogram.TheinformationcontainedintheAMORTIZATION programanswers
the questions: what is the advantage to a seller of carrying back a 2nd Trust Deed, how soon will I payoff my loan if I
make an additional payment towards principal each month, I am comfortable with a certain payment, what does my
loan need to be, what is theAPR based on these costs?
PREQUALIFICATION
The PREQUALIFICATION program containsALL of the FHA, VAand Conventional loan programs and the Buyers
Costs, as well as, the questions you need to ask the client in order to quickly and easily prequalify him/her. It knows
the qualifying guideline ratios and residual income. By choosing the PREQUALIFICATION key and answering the
followingquestions,yourREALPRO PLUS willcalculatetheimportant informationyou needwhen workingwith aclient.
Theinformation containedinthe PREQUALIFICATION program answersthequestions: whatsalesprice/loan amount
range do I qualify for, how much income do I need to qualify for this particular sales price, how much more loan can I
qualifyfor if Iwentwith anAdjustableRateMortgage?
BUYING VS RENTING
TheBUYING vs RENTING program containsthe questionsyou will needto askyourclient inorder to calculatetheTax
Savings, Principal Paid andAppreciation. By choosing the BUYING vs RENTING key, you can SHOW the first time
buyertheADVANTAGEof buying ahomerather than continuingtorent. By demonstrating yourknowledge and ability
theclientwillCHOOSEtoworkwith you. TheBUYING vs RENTING programanswers thequestions: why shouldI buy
whenthepaymenteachmonthisgreaterthanmyrentpayment,whatismytaxadvantage?
REFINANCE
The REFINANCE program contains the FHA, VA and Conventional loan refinance information. By choosing the
REFINANCE key and answering the questions that relate to the Borrower’s current loan, your REALPRO PLUS will
calculate a Cash Out Refi, a Break Even Refi, Equity 2nd, or a Streamline Refi. The information contained in the
REFINANCE program answers the questions: how much cash can I take out of my property, what loan do I need to
covermy outstanding liens and thecostof the refinance and whatwillmy new payment be withmynew lower interest
rate?
DISCLAIMER/SETUP
The DISCLAIMER program contains the ability to customize your REALPRO PLUS tape with your name, company
nameandphonenumbers. Thereare5linesforthisinformation,aswellas,apreprogrammedRESULTSAREESTIMATES
ANDNOTGUARANTEED. Following the “RESULTSARE...”you have2lines for signatures anddate. Youget to the
DISCLAIMERprogram throughthe Disclaimer/Setupkey.