Transaction Coordination

Services:

• I keep organized files (both paper and on the computer) on all transactions, confirming that all required documents are on file at all stages.
• I verify that earnest money is received and placed in escrow.
• I carefully review the contract for any missing signatures or information.
• I send a weekly report to the agent with contact information for all parties, and a summary of completed items and dates, and a log of communications with all parties.
• I keep copies of all correspondence, fax sheets, inspection reports, work order invoices and receipts and miscellaneous documents.
• I keep track of all contingency dates: home sale, attorney review, finance, and inspection deadlines.
• I send an introductory letter to your client and call to introduce myself as your transaction coordinator.
• I follow up with weekly reports (email, letter, fax, or voice) to your client, keeping them informed of the process.
• I send introductory letters or emails to the client’s attorney, co-agent and to the lender. I inform them to direct all updates, phone calls, emails, and questions to me instead of the agent.
• I send (Fax, mail, or email) all necessary paperwork to the client’s attorney.
• I confirm receipt of buyer’s pre-approval.
• I confirm necessary inspections. Well inspection and septic inspections needed?
• I order condo resale certificate if needed.
• Send social security #’s and mortgage payoff to title co.
• I call or email the title company to introduce myself as your transaction coordinator and that all correspondence should be copied to me.
• I verify that a copy of the prior title is turned in for any discounts.
• I verify that an appraisal is ordered. I alert client and agent with appraiser’s name and number and schedule the appointment.
• I double check commission disbursement reports for accuracy.
• I update agent and client with closing date, time, and place with settlement statement, map and directions.
• I send reminders to sellers or buyers to disconnect or transfer utilities.
• I keep track and inform agent and client of final loan approvals.
• I send a letter to buyer reminding them to order homeowner’s insurance.
• Before closing, I re-check the contract and verify that all conditions are met.
• Before closing I remind agent to remove signs, supra or lock box, marketing material from home, to bring keys and garage door remotes to closing, buy a closing gift.
• Get deposit check from escrow for closing file
• I record seller’s new address.
• I send a “Thank You” letter to the client.
• I send a “Thank You” letter to the co-agent.
• I prepare and file a New Year letter to the client with a copy of the HUD 1 statement for their tax preparation the following year. I give these to the agents to sign and mail out right after the first of the year.

What I don’t do

I will not act as the agent in your place. I do not get involved in contract negotiations. I will let you know if there is a problem. You will let me know how you want me to handle it or if you want to handle it yourself. You as the agent should handle major problems. I do not normally attend walks-through, inspections, or closings. However, in a pinch, I may be available.