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Contract to Close
What is a Transaction Coordinator?
Transaction Coordinators are responsible for managing and monitoring the transaction process through interfacing with real estate professionals, clients, customers, vendors, title and escrow, attorneys, and lenders. Transaction Coordinators are responsible for maintaining the escrow closing process and completing all tasks assigned during the normal transaction process of the Broker and/or Agent.
Contract to Close (Transaction Management):
We step in at the point of executed contract to ensure all of the deadlines of your transaction are met by coordinating with the inspector, title co., lender, etc. and guarantee a smooth, seamless closing for you and your client. Includes: RELAY (online mgmt platform), eFax, Docusign, CRM (contact relationship management): Total Savings & Value : $880/yr
Buyer Side Transaction Coordinator
-Review contract for accuracy and completion
-Have contract receipted at the title co.
-Get prequal letter from lender
-Contact title co, lender, other agent, and seller to give full introduction, contact info, and contract
-Set inspection with preferred inspector
-Get inspection time and date from buyer’s agent and inform seller and listing agent of that info
-Follow up 24 hours after inspection to make sure inspection report received
-Make sure we have signed seller’s disclosure regarding all parties involved
-Have title co order HOA docs and resale cert
-File any amendments to contract regarding sales price, repairs, etc.
-Remind agent when option period ends
-Get DA form and make sure title co receives
-Obtain existing or new survey if applicable by date due
-Obtain appliance manuals from seller and/or listing agent
-Order home warranty
-Confirm lender has ordered appraisal
-Make sure survey and HOA information has been obtained and received by title co
-Find out about POA and if mail out
-Confirm contract contingencies have been resolved and all amendments have been received by title co
-Get financing approval from lender
-If applicable, confirm that repairs have been made by seller and forward info to buyer’s agent
-Get all utility info from seller and forward to buyer’s agent
-Set date and time of closing
-Find out about cleaning intensions with seller and/or listing agent
-Request preliminary HUD along with amount needed for closing and wiring instructions
-Remind buyer to bring driver’s license and checkbook to closing
-Make sure any pest treatments have been performed and they have notified home owner’s insurance of change in service
-Remind buyer’s agent to do a walkthrough 2 days before closing
-After closing, change the status to SOLD
-Just Sold cards if applicable
-Post closing survey to buyer
Seller Side Transaction Coordinator
-Review contract for accuracy and completion
-Have contract receipted at the title co.
-Change status of listing to PB
-Contact title co, lender, other agent, and seller to give full introduction, contact info, and copy of the contract
-Email title co with seller’s mortgage info, HOA info, payoff amount, social, marital status, birthdate, and commission split
-Get inspection time and date from buyer’s agent and inform seller and listing agent of that info
-Make sure we have signed seller’s disclosure regarding all parties involved
-File any amendments to contract regarding sales price, repairs, etc.
-Remind agent when option period ends
-Get DA and make sure title co receives
-Obtain existing or new survey if applicable by date due
-Obtain appliance manuals from seller
-Confirm lender has ordered appraisal
-Make sure survey and HOA information has been obtained and received by title co
-Find out about POA and if mail out
-Confirm contract contingencies have been resolved and all amendments have been received by title co
-Get financing approval from lender
-If applicable, confirm that repairs have been made by seller and forward info to buyer’s agent
-Get all utility info from seller and forward to buyer’s agent
-Set date and time of closing
-Find out about cleaning intensions with seller
-Request preliminary HUD along with amount needed for closing and wiring instructions
-Remind seller to bring driver’s license and checkbook to closing
-Make sure any pest treatments have been performed and they have notified home owner’s insurance of change in service
-Remind buyer’s agent to do a walkthrough 2 days before closing
-After closing, change the status to SOLD
-Just Sold cards if applicable (contact us for custom design and pricing)
-Post closing survey to seller
-3 years of handwritten notes once a quarter to your client - total of 12 - (additional $99 paid at closing by Realtor)
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