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Transaction Management

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Christopher Stevens

on 7 November 2016

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Transcript of Transaction Management

Contract Acceptance
Contract Review
1. Verify all contracts & addendums are executed

2. Ensure all required addendums are included w/ the contract

3. Confirm and verify all parties' contact information, property address and contract timelines
Contract Distribution and Introductory Emails
1. Provide copies of the contract and all relevant addendums to the lender, Buyer(s), Seller(s) and/or Listing Agent and Title Company.
Transaction Spreadsheet/Software
1. Create, upload, and maintain the transaction and documents in a Paperless Pipeline

2. Maintain a timeline contingency calendar for the property & provide important reminders.
Escrow and Inspections
1. Provide a list of vendors (home inspectors, WDO, etc) to customers upon request, and schedule vendor inspections/appointments.

2. If representing the buyer, assist with scheduling of any inspections, delivery of escrow and status of borrower's loan application.

3. If representing the seller, coordinate with the buyer's agent on scheduling of inspections, delivery of escrow and confirmation of buyer's loan application.
Inspection negotiations/acceptance
1. Confirm inspections have been completed and any issues that arise from inspections are addressed.
Transaction Management
Understanding the transaction process
Appraisal being ordered and completed
1. Confirm with lender Appraisal has been ordered.

2. Confirmation with listing agent appraisal has been scheduled.

3. Following up with lender regarding completion of appraisal.

4. Addressing any issues that may arise from the appraisal.
Title Search and Lien Search
1. Reviewing and understanding title commitment.

2. Reviewing and understanding lien searches.

3. Addressing any issues that may arise on either title or lien searches.
Loan Commitment
1. Receiving a copy of buyers loan comment/conditional approval from lender.

2. Providing copy of buyers loan commitment to the appropriate parties.

3. Reviewing the loan commitment to understanding what are the outstanding conditions lender is needing for a Clear to Close.

Clear to Close/Confirmation of lenders CD being disclosed to buyer
1. Confirming with buyers lender that all conditions have been satisfied and borrower has received a Clear to Close.

2. Confirm lenders' CD has been disclosed to borrower (3 day TRID).
Scheduling closing and final walk-through
1. Coordinating with buyer, seller, agents, lender and title companies time/day for closing.

2. Coordinating final walk-through.

3. Providing utility information to appropriate parties.
1. Providing a Closing Disclosure to the appropriate parties for review.

2. Confirming figures are accurate.

3. Confirming buyers have received the final figures for closing and wiring instructions for funds.

4. Confirmation from title file has closed and disbursed.
Full transcript