Transaction Coordination-Contract to Close
Upon receipt of a ratified contract and all addenda and other pertinent documents:
- Coordinate opening of the file and handle all documents securely.
- Ensure everything is fully executed with dates, initials, signatures, and broker information is completed.
- Introductory email will be sent providing a timeline of deadlines with a copy of the executed contract, all addenda, and copy of EMD to all parties involved in the transaction, as appropriate.
- Submit all required contract documents, forms, amendments, and addenda for compliance.
- Create & Share Google calendar event for day of closing and later update with confirmed time and location.
- Submit all executed contract changes or extension addenda, if applicable, to appropriate parties.
- MLS Data Input Status changes, if needed.
- Verify receipt of Earnest Money Deposit and ensure all parties receive copies.
- Maintain contact with the attorney/title company and lender throughout the transaction.
- Provide agent email updates on the status of the transaction, keeping you informed.
- Update deadlines due to any changes in the contract.
- Order HOA documents, if needed.
- 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.
- Confirm inspections have been set up in accordance with contract deadlines.
- Verify inspection dates and time. Ensure all parties have received reports to review.
- Follow up on repairs and receipts following inspections, if needed.
- Monitor appraisal timeline and completion with the lender.
- Coordinate and monitor buyer’s loan status with lender.
- Ensure your buyer/seller is provided a copy of all appropriate documents throughout the transaction.
- Upload all disclosures, documents, and reports into agent’s online transaction management service as they are received & fully executed throughout the transaction, if applicable.
- Maintain constant contact with all parties involved for status updates as well as outstanding items.
- Provide utility contact info to the buyer or the buyer’s agent as appropriate and remind the seller/buyer or their agent to transfer utilities effective the day of closing.
- Order escrow check for agent pick-up or netting out at closing, on seller side.
- Remind the buyer to wire funds/obtain certified funds for closing, as appropriate on the buyer side.
- Coordinate Closing Gift(s) per agent instructions, if needed.
- Order Sign removal, if needed on seller side.
- Coordinate removal of any staging furniture, if needed on seller side.
- Coordinate and confirm final walk-through, if needed.
- Schedule signing appointment for client and agent, if applicable.
- Upload Final HUD/CD & any other required documents to online transaction management service for compliance.
- Send email to your client asking for a review on Zillow or your preferred site, if needed.
Agent Expectations:
- Provide a full and complete checklist of documents required by your broker.
- Attend any onsite inspections or appointments.
- Negotiate repairs and any changes to the contract.
- Advise the client of any contingency timeline removals. (I will remind all parties of the dates and timeframes in the introductory email.)
- If TC is drafting documents, the agent will review them before being sent to client. (if applicable)
- Review and approve the Preliminary and Final Settlement Statements.
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