Transaction Fees:
$500.00 Per Escrow
Fee Can Be Paid for in Escrow. Services that we provide:
Open Escrow
(if your Buyer) forward buyer's deposit to
escrow
Work closely with the escrow officer throughout the entire transaction
Give the file to you at close of escrow
Maintain your file during the escrow
Keep a communication Log
Send introductory letter to your customer and the other agent upon receipt
of the file
Track dates and calendar items per the contract (Contingency Removals
etc) Remind you and the other agent of the contingency
removals and calendar items that become due
Schedule inspections and notify your client and the other agent of the
schedule
Order and follow up upon receipt of inspection reports
Give pay off information / Homeowners Association Information
Order natural hazard reports, home warranty etc., (as per contract)
Forward all paperwork, reports, disclosures to customer for signatures (if
you choose to have that done)
Forward all applicable disclosures to the other agent OR request
disclosures from the other agent
Clerical services in connection with specific transaction
Provide escrow net sheet to you for approval and then fax to title
Make sure broker/office file is complete at close of escrow
At close of escrow provide you with a complete file
Services that we do not provide:
Personal Assistant
Negotiate
Meet inspectors, Appraisers, (or run comps) Hold Open Houses, etc.
Sign any documents for customer or agents
Anything that requests leaving the office
Perform any duties that would be considered a violation of California
Real Estate Law
The Real Estate Transaction Lifecycle from
the
Transaction Coordinators Perspective
Purchase
Contract Accepted
Receive Contract from you or Buyers Agent
Open Escrow
(if your buyer) Send Deposit Check toTitle
Fax
Contract to the Loan Officer (If our Buyer)
Schedule all Requested Inspections
Send
Introductory Letter to Client & Other Agent as well as the Calendar of
Events, Inspections Ordered List of Dates & Times & Request for
Disclosures
Call Client &
Agent to Introduce
Escrow Services
Calendar Due Dates for Contingency Removals,
etc.
Turn Broker
Copy File to Your Office
Begin Process
of Collecting All
Documents
As Disclosures
come in, Escrow Services will send you the copies that
are needed for your and Buyers Signature .
Buyers Loan
Documents are Ordered.
Make sure any
work required ie, Termite Sec. 1, Roof Repairs are completed
Make Sure We
orthe Other Agent has Removed All Contingencies per Contract Dates
Follow up
with Loan Officer to make sure Buyer is Loan
Approved and the Appraisal has come back at sales price along with any
conditions that may or may not be required.
Buyers Loan Documents Arrive in Title. Call and Schedule for Buyer to
sign off Documents.
****GIVE
TERMS TO TITLE****
Buyers
Documents go into Review for 48 to 72 Hours
Make Sure all
documents required are in the file, dated and signed and prepare file to
go to Broker for Payment for Real Estate Agent
Funding Takes
Place
Buyer Goes on Record
**Close of Escrow Day**
Collect
Commission Checks from Title, Send them along with AgentsComplete File to Accounts Payable for Agent Payment
