Contract To Close

When a transaction goes under contract I will:

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• Coordinate opening the file with the title / escrow company and handle all documents accordingly.

• Send an introduction email with transaction timelines and deadlines along with a copy of the fully executed contracts to the cooperating agent, buyers agent, buyer and / or seller (your client as appropriate), buyers lender and the title / escrow company.

• Ensure all paperwork is fully executed and in broker compliance to include dates, initials, signatures and broker information.

• Submit all required contract documents to broker for compliance according to broker submission timelines.

• Send / request disclosure packages and gather signatures if needed.

• Ensure the lender, title company and broker receive any amendments and / or changes to the contract.

• Verify that the earnest money deposit has been received and obtain receipt or necessary documentation.

• Verify inspection date and time.  Ensure all parties have received the reports to review if applicable.

• Keep in contact with the title company and lender throughout the transaction.  Provide email updates on the status of the transaction to keep you informed.

• Update deadlines due to any changes in the contract.

• Order and collect HOA documents in accordance with deadlines and email to buyer agent (if on list side) or to buyer (if on buyer side).

• Order Home Warranty per contract if needed & submit to title / escrow & buyer.

• Monitor appraisal timeline and completion with the lender.

• Coordinate and monitor buyer's loan status with the lender.

• Ensure your client is provided a copy of all signed documents.

• Remind you to draft your commission disbursement.  If TC is completing this the form must be approved by agent before submitting to title and compliance.

• Upload all disclosures, documents, and reports into your online transaction management service as they are received or fully executed throughout the transaction.

• Maintain consistent, constant contact with all parties involved for status updates as well as outstanding items.

• Create and maintain an invoice worksheet for sellers to approve all outstanding invoices to be paid out of seller proceeds through title / escrow.

• Verify title has all required documents.

• Coordinate and confirm final walk-through.

• Coordinate keys / garage door openers, and alarm codes prior to recording & relay information to all parties.

• Conduct a final file audit three days prior to closing to ensure all documents are uploaded and the file is complete.

• Confirm final recording and alert agents.

• Upload closing package to online transaction management service for compliance.

• Order sign / lock box down with your preferred courier and sign service.

• Send you a receipt once TC management fee has been paid.  At EOY you will receive a spreadsheet breakdown and 1099 from me for tax purposes.

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This services include all of the above tasks plus:

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BUYER SIDE TRANSACTIONS:

 

• Upload buyers representation agreement and all broker required forms for compliance.

• Submit all contracts, counter offers and amendments to the lender (if applicable).

• Provide earnest money deposit instructions and provide the buyer with a receipt.

• Follow up on repairs and receipts from inspections and negotiated repairs and provide receipts invoices and warranty information.

• Send out and obtain signatures on preliminary title report acknowledgement and resale certificate acknowledgement.

• Give utility contact information and remind the buyer to transfer utilities prior to closing.

• Coordinate key transfer upon closing.

• Remind you to send a "Happy Homiversary" card / phone call / text one year later.

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SELLER SIDE TRANSACTIONS:

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• Upload listing agreement and all broker required forms for compliance.

• Follow up on signatures of all documents.

• Upload all forms, amendments and disclosures for compliance.

• Create and maintain a seller invoice worksheet for seller to approve prior to recording.

• Order AsBuilt or recertification as applicable (per contract w/ surveyor of agents choice).

• Follow up on repairs and receipts and submit all to title / escrow to be paid out of proceeds.

• MLS data input for status from to pending and then closed. (Agent to provide Super User access to TC).

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AGENT EXPECTATIONS:

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Review preliminary title reports. Review escrow instructions and settlement statements. Negotiate repairs and any changes to the contract.  Advise the client of any contingency timeline removals (we will remind all parties of the dates and timeframes in the introduction email).

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FEE SCHEDULE:

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• Listing or Buyer side: $350.00 (contract to close)

• Representing both sides: $450 (contract to close)

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Exclusive Properties Transaction Management is to be paid at closing through title / escrow according to Exclusive Properties Transaction Management service agreement.

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If you need a special service outside the scope of what is listed above please reach out to me to discuss!