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Transaction Coordination

Are you spending too much time behind your desk with loads of paperwork and endless following up? You can other wise spend your valued time to obtain listing and find homes for your clients with all the time you will have by having a transaction coordinator.

The profession of real estate agent is listed as one of the 10 most stressful jobs. When things get crazy and you’re putting out fire after fire, it is important to know that your TC is there to assist you.

What time saving things can we do for you and your clients?

  • Open Escrow and sends escrow all contracts and transaction information.

  • Set up the file and upload any documents to online broker system or transaction management system.

  • Request escrow number, Escrow Instructions, and Commission Instructions.

  • Obtains Prelim Report from Escrow and/or Title Company.

  • Provides Escrow with the HOA information

  • Make sure all contracts are fully executed with correct dates, initials, signatures, and the broker information is completed.

  • Provide an executed Purchase Agreement to all parties involved in the transaction.

  • Orders Termite Inspection.

  • Order the Natural Hazard Report per contract

  • Check with escrow that earnest money deposit was received.

  • Prepare a Full Disclosure Package including all of the required C.A.R., broker forms and documents then deliver these by email or DocuSign directly to you and/or your seller.

  • Send Listing Agent their AVID form to complete

  • Provide a completed Seller Disclosure Package and deliver a copy to the buyer's agent as well as ensure that all of the contract timelines are adhered to.

  • Confirm with the buyer’s agent that the appraisal has been ordered/scheduled. (Please note we cannot contact the buyer’s lender directly without written authorization to do so)

  • Send copies of the termite and any other reports to buyer's agent and to escrow.

  • Sends reminders to the buyer’s agent for critical dates such as Contingency Removals.

  • Orders Home Warranty Plan if applicable (normally ordered by the listing side unless otherwise specified).

  • Upload all documents, disclosures and reports into the transaction management system as each one is received fully executed throughout the transaction process.

  • Make sure that escrow has received all documents including the termite report, natural hazard report, home warranty invoice, commission instructions and any other required documents.

  • Make sure that all disclosures and reports have been provided and ensure that all signatures, initials and dates have been completed.

  • Maintain contact with all parties involved for updates as well as any items needing attention or that are still outstanding to complete our file.

  • Deliver a completed digital file to the agent or their broker.

  • Make sure a completed file is uploaded to your broker system (or similar) and available for your access 24/7.

    A TC makes things easy for you, save you valuable time, make sure you have the required Broker documents and signatures and ensure escrow receives your commission demand so you can be paid directly and promptly from escrow.

Roles & Responsibilities

 

Escrow

  • Send Wire Instruction to the Buyer

  • Receive EMD

  • Prepare Escrow Instructions/Amendments/Grant Deed/Estimated Closing Statement

  • Works with the Title Company to Clear any Issues on Title

  • Order Homeowner’s Association Documents and Reports

  • Notify Seller of any Upfront Homeowner’s Association Fees if Applicable

  • Obtains Client's Signature on Their Escrow Amendments/Paperwork

  • Communicates with Listing / Selling Agents with Progress Reports as Needed

  • Prepares Request for Owners and Lenders Policies of Title Insurance

  • Assists Loan Broker / Lender with Obtaining all Information Needed from Escrow Holder Prior to Drawing of Loan Documentation

  • Coordinates Closing/Gets Loan Docs Signed (Informs Everyone of Closing Status)

  • Disburses Funds as Authorized by the Escrow Instructions, Including Charges for Title Insurance, Recording Fees, Liens, Real Estate Commissions, and Loan Payoffs.

  • Upon Meeting All Requirements And Receipt Of All Funds, Releases File To Record With County Recorder's Office

  • Prepares Final Closing Statement for the Buyer and Seller

  • Escrow is responsible for getting signatures on their documents.

Agent

  • Lead Generation

  • Marketing the Property for Sellers

  • Complete Home Search for Buyers

  • Conduct Open Houses

  • Create Purchase Contracts

  • Create Listing Agreements

  • Negotiate the Terms of the Sale (Negotiate any and all repairs and any changes to the contract)

  • Obtain All Signatures on the Purchase Contract and Related Documents

  • Send TNS Fully Executed Contracts Once the Offer is Accepted

Lender

  • Collects all Necessary Paperwork and Information from the Buyer(s) to Properly Qualify them for their Home Loan

  • Educates Buyer(s) on Loan Programs Available to Them

  • Explains Loan Charges and Fees Required to Obtain their Loan

  • Verifies Funds are Available from the Buyer(s)

  • Send out Loan Disclosures

  • Orders the Appraisal

  • Provides Closing Disclosures and Orders Loan Documents

  • Works Along with Escrow to Coordinate the Loan Document Signing

  • Prepares the Loan to Fund and Reports to Escrow once they are able to Release to Record the Deed with the County