Licensed R.E. Certified Transaction Coordinators
Licensed R.E. Certified Transaction Coordinators
Frequently Asked Questions "FAQ"
A Transaction Coordinator handles various tasks, including: Managing and organizing all necessary paperwork Coordinating appointments and deadlines, and ensuring compliance with legal and regulatory requirements. Communicating with clients, agents, lenders, and other stakeholders and monitoring timelines and deadlines to avoid delays. Licensed RE transaction coordinator
While a Real Estate Agent focuses on client relationships and the overall sales process, a Transaction Coordinator handles the administrative aspects of the transaction. This allows the agent to spend more time with clients and on sales activities Licensed RE transaction coordinator
The cost of hiring a licensed RE transaction coordinator can vary depending on the complexity of the transaction and the level of service required. Some TCs charge a flat fee per transaction, while others may charge an hourly rate. Our Fees are Representing 1 Side $450.00, Both Sides $650.00
Hiring a Transaction Coordinator can save you time and reduce stress by handling the administrative tasks of a real estate transaction. This allows you to focus on client relationships and growing your business.
This is the primary contract between the buyer and seller, outlining the terms and conditions of the sale, including the purchase price, closing date, and any contingencies.
A sworn statement that confirms the ownership of the property and declares any leases or other encumbrances.
A legal document that records the change of ownership from the seller to the buyer. It should indicate how the buyer will hold the title, such as joint or individual ownership.
A policy that protects the buyer and lender against any issues with the property title, such as clerical errors or undisclosed liens.
A document that outlines how the property taxes are to be paid and any outstanding tax obligations.
A detailed report from a professional inspector assesses the property's condition and identifies any necessary repairs or issues.
A form that provides a detailed account of all the costs and fees associated with the transaction, including loan terms, monthly payments, and closing costs.
Instructions provided to the escrow agent on how to handle the funds and documents during the closing process.
If the buyer is financing the purchase, there will be various loan documents, including the mortgage agreement and promissory note
A checklist is used by the buyer to ensure that the property is in the agreed-upon condition before closing.
These documents are essential for real estate transactions. If you have any specific questions about any of these documents or need further details, feel free to ask!
An escrow account is held by a third party on behalf of the buyer and seller. It ensures that all funds and documents are handled securely until the transaction is complete.
A title search ensures that the property is free of any liens or encumbrances. Title insurance protects the buyer and lender against any future claims on the property.
A thorough inspection helps identify any issues with the property that need to be addressed before closing. This can include structural problems, pest infestations, or other concerns.
Ensure that the buyer’s financing is in place and all loan documents are ready. This includes getting pre-approved for a mortgage and locking in an interest rate.
Carefully review all closing documents, including the purchase agreement, closing disclosure, and any other relevant paperwork. Make sure everything is accurate and complete.
Coordinate with all parties involved to schedule a closing date that works for everyone. Make sure all necessary documents and funds are ready for this date.
A final walk-through allows the buyer to inspect the property one last time before closing to ensure it is in the agreed-upon condition.
Keep open lines of communication with all parties involved, including the buyer, seller, agents, lenders, and attorneys. Address any issues or concerns promptly to avoid delays.
Be aware of all closing costs and ensure that funds are available to cover these expenses. Escrow will send you an estimated closing statement and the amount to be wired prior close of escrow. This includes fees for inspections, title insurance, and other related costs. Sign Closing Documents.
1. Financing Issues 2. Appraisal Problems 3. Home Inspection Issues 4. Title Issues 5. Insurance Problems 6. Incomplete Documentation 7. Closing Cost Discrepancies 8. One of the Parties Backs Out. By being aware of these potential issues and addressing them proactively, you can help ensure a smoother closing process. If you have any specific concerns or need further assistance, feel free to ask!
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