On average the contract process takes 12-20 hours per contract. Let’s be conservative and say an agent closes between 2-4 contracts per month. That can range anywhere from 24-80 hours PER MONTH that Realtors spending to work in their business instead of on their business. Even if you could get ¼ of that time back, that’s at least 1-3 business days a month. That time could be spent networking, generating new business or even taking time off work!
Let US help YOU!
For Contracts
- Thoroughly review all deadlines and timelines
- Send executed contract to all parties in the transaction
- Confirm escrow deposit and obtain receipt
- All parties contacted via an introduction by us as a member of “your” team by phone and e-mail
Keller Williams Agent Requirements
- Upload all contract documents into dotloop
- Complete greensheet and send to MCA
- Obtain any missing documents needed for the DA
Inspections
- Setup/Confirm that inspections for both home and termite are scheduled within the time frame of contract and ensure all parties have been informed
- Negotiate repairs as needed and will prepare any addendum
- Monitor repairs and collect receipts before closing
Condominiums/HOA
- Obtain copies of deed restrictions/condo docs and confirm the buyer has received them
- Make sure the buyer makes application and interview if required
- Confirm approval is received by the title company
Financing
(regardless if seller or buyer side)
- Confirm the buyer has made application
- Make sure appraisal has been ordered
- Follow-up with lender for appraisal results
- Monitor underwriting process through receipt of loan commitment followed by the clear to close
Title Company
- Help get any details needed
- Review title commitment
- Acquire existing survey and title policy (if they exist and are still valid)
- Make sure new survey is ordered and elevation certificate if needed
- Coordinate mail away closings
- Make sure the home warranty is ordered either by the title company or us -send receipt to client
Insurance
- Ensure that all insurance related tasks are performed. For example: 4 point and Wind Mitigation
- Make sure the buyer gets insurance quotes (home and flood) and it will be binding for closing date
- Provide the title company and lender with all documentations and invoices
Before Closing
- Provide Title Company with DA and final walk-thru form
- Schedule final walk-thru
- Coordinate closing time and place with all parties
- Provide the seller and buyer contact information regarding turning on/off utilities
- Send closing instructions to buyer and seller
- Make certain that the lender’s closing documents are delivered to title Company
- Review the final CD and make sure all charges are correct
- Confirm that buyer has received final amt due at closing or that the seller receives proceeds amt
- Make sure there are keys and garage remotes at closing
- Get clients forwarding address
After Closing
- Upload all closing docs into compliance system
- Make sure checks are received
If Contract Cancels
- Prepare release and cancellation of contract
- Send executed release to the title company
- Make sure the client gets their earnest money back
What YOU Do
- Provide fully executed contract, addendums, and contact information for all parties
- Deliver escrow deposit to respective title company
- Attend home/termite inspection
- Meet appraiser if needed
- Attend final walk through and closing
- Take lockbox and sign off property
- Collect your commission!!