FAQs

  • What does a Transaction Coordinator do?

    1. Open escrow.

    2. Liaise between the seller, buyer, escrow, agents and various third parties.

    3. Review the purchase agreement for completeness.

    4. Ensure the buyer's earnest money deposit is received on time.

    5. Order home inspections and confirm with listing agents.

    6. Review title reports and escrow instructions for errors.

    7. Prepare the Seller's Disclosure Packet; order HOA documents (typically a half inch thick due to various state, local and federal laws).

    8. Draft addendums for agent review and send for signatures with approval.

    9. Monitor deadlines during the contingency period and provide notices as needed.

    10. Ensure the loan contingency removal is tracking on time.

    11. Brainstorm with agents on negotiation tactics and possible solutions.

    12. Obtain contingency removals by the contingency removal date or serve a notice to perform when necessary.

    13. Assist in the request for repair process.

    14. Obtain other waivers where applicable.

    15. Coordinate the final walk-through.

    16. Document communications among the parties.

    17. Confirm commissions and submit disbursements as required by individual brokers.

    18. Verify the broker’s file is complete so the agent is paid without delay upon closing.

    19. Verify settlement statement has been added to the agent file for the client, which will help with IRS filings the following April.

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