Welcome to Contract 2 Close

TRANSACTION SERVICES

Contract
•  Thoroughly review contract, verify all required signatures and initials are on the contract and addenda. Verify all addenda are included
•  Open escrow
•  Send welcome email to all parties (client, both agents, escrow officer, lender) with escrow number and timeline
•  Address additional terms and conditions. Create necessary addendums and send for signature
•  Compile all disclosures and send to counter agent
•  Log all contingency due dates and send via google calendar
•  Release contingencies according to contract timeline
•  Update timeline and all parties with a weekly email

Inspections/NORR/Home Warranty
•  Order, monitor and track all inspections specified in contract
•  Prepare NORR or request credit and send to counter agent (Agent directed)
•  Monitor repairs and collect receipts
•  Order home warranty (if applicable)

Financing/Appraisal
•  Verify lenders closing documents and CD (Closing Disclosure) are delivered to title company
•  Monitor and track appraisal
•  Monitor underwriting process and CTC (clear to close)

Title/Escrow
•  Open Escrow, send escrow number and copy of Earnest Money Deposit to necessary parties
•  Send Escrow all required documents (Addendums, invoices, repairs, home warranty, short term rental agreement etc.)
•  Follow up with escrow for receipt of EMD, Prelim, HOA/CCR docs, Escrow instructions, Estimated HUD-1/Settlement statement and any escrow contingencies
•  Confirm buyer receives their amount due at closing and send wiring instructions (if applicable)

Insurance
•  Make sure buyer acquires insurance (home and flood), and is sent to all parties necessary
•  Monitor elevation certificates via insurance agency chosen (if applicable)

Before Closing
•  Send commission instructions to broker for signature and back to title company fully executed
•  Schedule walk-thru and assure proper addendums are executed and sent to all parties necessary
•  Coordinate signing time and place
•  Provide buyer and seller with utility information for transfer of services
•  Send closing instructions to necessary parties
•  Coordinate key(s) and garage remote delivery to buyer
•  Get sellers forwarding address

After Closing
•  Upload all closing docs into compliance system
•  Create flash drive for client (per request)
•  Thank you note to cooperating agent
•  30 days after COE, reminder sent to you to touch base with your client
•  Send closing statements to clients at the end of the year for tax purpose

If Contract Cancels
•  If transaction cancels on or before inspection, there is no charge to you and you take over the cancellation
•  If transaction cancels after the inspection, 50% fee still applies and the following:
     - Preparation of release and cancellation of contract (cancellation instructions)
     - Send executed release to title company
     - Make sure client gets their EMD

What Do You Do?
•  Provide fully executed contract, addendums and contact information for all parties
•  Deliver EMD, attend all inspections/re-inspections, meet appraiser (if necessary)
•  Attend final walk-thru and signing with title company
•  Take sign and LB off property
•  COLLECT YOUR COMMISSION!!