Sub UpdateDocuments()
Application.ScreenUpdating = False
Dim strInFolder As String, strOutFold As String, strFile As String, wdDoc As Document
strInFolder = GetFolder
If strInFolder = "" Then Exit Sub
strFile = Dir(strInFolder & "\*.doc*", vbNormal)

'Check for documents in the folder - exit if none found
If strFile <> "" Then strOutFold = strInFolder & "\Output\"

'Test for an existing outpfolder & create one if it doesn't already exist
If Dir(strOutFold, vbDirectory) = "" Then MkDir strOutFold
strFile = Dir(strInFolder & "\*.doc*", vbNormal)
While strFile <> ""
  Set wdDoc = Documents.Open(FileName:=strInFolder & "\" & strFile, AddToRecentFiles:=False, ReadOnly:=True, Visible:=False)
  
  With wdDoc
    ActiveWindow.View.ShowFieldCodes = Not ActiveWindow.View.ShowFieldCodes
    Selection.Find.Replacement.ClearFormatting
    
      With Selection.Find

    'Old hyperlink
        .Text = _
            "www.yahoo.com"
    'New Hyperlink
        .Replacement.Text = _
            "www.google.com"
        .Forward = True
        .Wrap = wdFindContinue
        .Format = False
        .MatchCase = False
        .MatchWholeWord = False
        .MatchByte = False
        .CorrectHangulEndings = True
        .HanjaPhoneticHangul = False
        .MatchAllWordForms = False
        .MatchSoundsLike = False
        .MatchWildcards = False
        .MatchFuzzy = False
        End With
        
       'Save and close the document
    .SaveAs FileName:=strOutFold & .Name, AddToRecentFiles:=False
    .Close
  End With
  strFile = Dir()
Wend
Set wdDoc = Nothing
Application.ScreenUpdating = True
End Sub
 
Function GetFolder() As String
Dim oFolder As Object
GetFolder = ""
Set oFolder = CreateObject("Shell.Application").BrowseForFolder(0, "Choose a folder", 0)
If (Not oFolder Is Nothing) Then GetFolder = oFolder.Items.Item.Path
Set oFolder = Nothing
End Function