The Transaction Coordinator (TC) will step in once the following steps have been done by you (the agent) once a property has a FULLY EXECUTED OFFER!!:
1. The agent creates a transaction in Dotloop with Fully Executed offer and all additional required FE documents (see below)
Upload all required Docs (These can be found in Dotloop, under documents, then templates, then look for the buy/sell packets)
Buyer Side Packets
Required Docs Buyer MA
Required Docs Buyer CT
Required Docs Buyer FL
Seller Side Packets
Required Docs Seller MA
Required Docs Seller CT
Required Docs Seller FL
2. The agent MUST SEND 2 SEPARATE Intro emails (to other agent and client) and CC your TC on those emails ***
Copy and paste from preloaded agent task list in dotloop and use gmail to send them out. Subject line should be “TC intro for ‘insert address’” ** If you have pre scheduled inspections please let the TC know at this time.**
Make sure to check off what you have completed in the task list
3. The Agent MUST have all participants(clients, lenders, attorneys, inspector etc) added to the “People Section”
If the agent has not added any participants, they MUST do so. They cant get in touch with someone if they don't have the information.
Agent MUST fill in the "CLOSING SECTION" of the View details section
Agent MUST fill out the commission amount in the "FINANCIALS" section
If the agent has not added any participants, they MUST do so. They cant get in touch with someone if they don't have the information.
***If on listing side, the agent MUST fill out the view details section in order for the P&S to be drafted, and then send the TC, your fully executed offer indicating the property is under contract*****
At the end of the Transaction please make sure all required documents are in DOTLOOP prior to submitting “file review”
What the TC will NOT take care of:
The TC can not do anything until the agent has added participants and sent 2 intro emails
Sending Intro emails to outside agent and clients
Negotiating
Coordinate date and time for charity check presentation
Go to final walkthrough
The TC will take care of:
Anything Dotloop related/ paperwork related once you have fully executed offer and signed required docs in the loop
Anything that can be resolved with a call/text/email--unless it has to do with negotiating or giving legal advice.
AGENT IS RESPONSIBLE FOR ALL AGENT AND TC TASKS IF THEY CHOOSE NOT TO UTILIZE TC
TC task list in Dotloop
Add inspection deadline, mortgage deadline and closing dates to their calendars
Email Seller accepted offer and communicate “Next Steps”
Coordinate with Buyer's agent and Seller a date and time for inspections LET TC KNOW IF YOU ALREADY SCHEDULED INSPECTIONS!!
Confirm office admin sent attorney approved contracts to Buyer’s Agent for signatures
Email Buyer signed purchase and sale to sellers to review and sign
Confirm with our bookkeeper that our office received the deposit check
Change MLS status to Contingent( if we have the listing)
Email fully executed purchase and sale to seller’s attorney and buyer’s agent
Check with buyer’s agent to see if lender ordered appraisal LET TC KNOW IF ALREADY ORDERED
Coordinate appraisal date and time with seller and buyer’s agent LET TC KNOW IF YOU DID THIS ALREADY
Send out agreed upon repair request( agent discussed this with clients) or release to seller for signature once you let them know which repairs buyers are requesting, and that you shared inspection report with them.
Send email to sellers with instructions for installation and inspection of Smoke & Carbon Monoxide detectors (MA ONLY)
Change listing to Under Agreement once buyer has mortgage commitment and all other contingencies have been met
Communicate with Sellers and ask them to request 6D Certificate (Condo Only)
Communicate with Seller's attorney to make sure they are ready for closing
Check with list agent to see if we need oil and water readings. If yes, can seller provide oil and water reading? If yes, provide instructions to seller on how to get final water (and oil when applicable) readings. Once received send to seller’s attorney
Ask list agent for copies of any receipts for repairs and send to buyer's agent
Ask office admin to generate a commission statement and send to agent for approval before sending to attorney
Notify the seller of final walkthrough date and time LET TC KNOW IF YOU DID THIS ALREADY
Notify seller of all final tasks prior to closing
Create closing documents folder and move in the appropriate documents to insure compliance for audits
Notify seller of post closing tasks
Remind list agent to remove lock box, yard sign & black binder
Change Status to SOLD in MLS--list side only
Email list agent for feedback on the co-broke agent
Email list agent post closing tasks list
TC acting as LC
In order for your TC to appropriately do her job as the LC, please make sure that all listing paperwork is seller signed AND in dotloop.
If it is not in dotloop, please send them ONE email with ALL the required information!!