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Transaction coordination from contract to close

1. Once contract has been negotiated, they prepare, verify and register completed documentation: Executed contract, Seller’s property Disclosures or Vacant lot disclosure, Escrow Deposits, HOA disclosures or Condo disclosures, Listing agreement and Brokerage relationship agreement, CDD disclosures, Net Sheet and MLS profile sheet or MLS waiver sheet.

2. Deposit of escrow deposit.  Verify who is the Escrow Holder. Get their contact information and check options for deposit. Follow up and make sure deposit has been delivered in a timely manner. Get a copy of the Escrow Letter. Send a copy to client, to cooperating agent, to lender and title company (if applicable). 

3. Create contract transaction in TD systems, upload all documentation and assign list of activities needed for closing and due dates. We send reminders of all the deadlines throughout the transaction.

4. Change status in Showing Systems to Under Contract (to cancel showings).

5. Change listing status to PNC in the MLS.

6. Send full contract to title company and to clients. Make sure the cooperating agent has a copy of the complete contract (including all addendums needed).

7. Contact HOA to verify if approval is required for buyers. If so, check approval process, send information to buyer’s agent. Follow up with buyer’s agent until approval is received.

8. Find out financing company chosen by buyers and send full contract to company.

9. Follow up with buyer’s agent on inspections – schedule with clients.

10. Check if we need to order a Lien Search.

11. Follow up to make sure that inspections were performed on time and check that the results have been received.

12. Make sure Lien Search results are in and no open permits were found. If there are existing open permits, assist client with getting them closed before closing date.

13. If repairs are requested, in coordination with agent, prepare and send Repair Addendum to customers so that the agent can review with the clients.

14. Coordinate the negotiations between Buyer’s Agent and Listing Agent in regards to repairs with Buyer’s Agent.

15. Once we have an agreement on the repair list, get the Repair Addendum executed by all parties and send a copy to the coordinating agent, client, and title company (if applicable).

16. Verify that an appraisal has been ordered (financing company). Make sure that the appraiser company has our contact information to coordinate and arrange access to the property.

17. Check with Buyer’s agent if their clients have chosen a Home Warranty Company. Send information to home warranty companies – if applicable.

18. Obtain home warranty confirmation with the contract number from home warranty company. Send a copy to closing agent / title company and buyer’s agent. Send a copy to closing agent, title company and buyer’s agent. Make sure the fee is added to the closing disclosure.

19. Get from the Title Company the HOA deed restrictions and community documentation from HOA and send to Buyer’s agent.

20. Prepare and send DA to Title Company.

21. Check with Title Company to verify that the survey has been ordered, if there was no previous Survey available or changes have been made since it was completed. Continue to follow up until it has been received.

22. Follow up with buyer’s agent to make sure buyers have their homeowner’s insurance arranged.

23. Verify that we received loan commitment from financing company, before the commitment deadline, and deliver a copy to clients, if not notify listing agent. If we do not receive it and we’re the listing agent, we notify the agent.

24. If any repairs have been requested the team checks on progress until work has been finished, and if any help is required to get everything completed within the established in the necessary time frame.  The team, also makes sure that buyer’s agent has all the corresponding invoices for their records.

25. Verify with Title Company that everything is going smoothly. Is anything needed from us or from our client? If so, give assistance.

26. Contact lender and verify final approval and verify insurance binder.

27. If escrow is not being held by title coordinate with escrow holder delivery of escrow money to title for closing.

28. Verify that the Title Company has received the loan package from the lender and that all documentation and conditions are met for closing.

29. Confirm with buyer’s agent if they will be conducting a walk-through and coordinate with sellers. Coordinate with buyer’s agent to bring key to closing.

30. Obtain and review estimated closing statement form from closing / title company.

31. Coordinate that buyer gets all the keys and remote controls of the home. Check with seller where they are leaving those items and inform buyer’s agent.

32. Coordinate corrections of any issues or mistakes with Title Company.

33. Re-confirm time and place for closing.

34. At closing obtain original Settlement Statement and verify transfer of funds.

35. Collect closing documentation, register and deliver to office.

36. Send an electronic copy of the closing disclosure to clients.

37. Coordinate the removal of lockbox, for sale sign and post.

38. Change listing status to SLD in MLS.

39. Take listing out of websites.

40. Delete link from the KIM page.

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