Compliance + Contract to Close

$500 per transaction

Compliance + Contract to Close services are offered on a per transaction basis. In the event a transaction for which Compliance + Contract to Close services were provided does not close, the agent will be charged half of the total amount to be shown on the agent’s next invoice. The next contract to close service will be a full payment, regardless of whether it is a repeat client.

Hours: Monday – Friday, 9am – 6pm, Saturday 9am – 5pm

The Compliance + Contract to Close Package includes:

Compliance –

  • Create Rechat transaction file.
  • Prepare compliance documents in Rechat and send out for signatures.
    • Listing Agreement or Buyer’s Representation Agreement
    • IABS
    • Affiliated Business Arrangement Disclosure
    • Square Footage Disclosure (all square footage information must be provided by listing agent in order to do so)
    • Send Sellers Shield to Sellers for signature (if requested)
    • Request Survey and T47 (if listing agent says existing survey is available) for listings.
    • Determine applicability of MUD/WCID/ECAD and obtain any required documentation.
    • Send NTREIS Data Input form and Sotheby’s Amenities Sheet to listing agent to have seller complete. TC will partially complete these forms with information from previous MLS listings if available.
    • Request property romance and MLS description from listing agent.
    • TC will send paperwork to agent for review and signature prior to sending to client.
  • Review signed documents for accuracy and completion.

Contract –

  • Distribute copy of executed contract to all parties (clients, agent, escrow officer, lender)
  • Send introductory email to all parties explaining Transaction Coordinator role in the transaction
  • Serve as communication liaison between the lender, title company, agents, client (buyer/seller)
  • Notify Office in Rechat to change status in MLS if we represent the Seller (Option, Pending, Sold)
  • Create Rechat transaction file for buyers
  • Upload all required documents to Rechat for review and approval
  • Coordinate delivery of the earnest money deposit & option fee to title company for buyers (if requested)
  • Send calendar invitations to agents and clients for all critical dates (if requested)
  • Follow-up on critical dates for Option Period, Finance Approval, Survey, T-47, HOA, Initial CD
  • Review contract & additional addenda for completion and accuracy; Obtain any missing initials/signatures
  • Follow-up to buyer’s lender for the appraisal status, underwriting conditions, closing disclosure, final loan approval & closing documents
  • Upload Amendments to contract into Rechat. (This service does not include negotiating or drafting Amendments)
  • Obtain repair receipts (if applicable) & forward them to all parties prior to closing
  • Follow-up on completion of CDA
  • Provide list of home warranty companies to the buyer
  • Reminder to turn on/off utilities
  • Reminder to buyer’s agent to schedule Final Walk-Through
  • Reminder to exchange keys and codes
  • Schedule closing and notify all parties
  • Order sign pickup post-closing

PLEASE NOTE:

  • Some services may be unavailable for non-residential listings.
  • Any Special Provisions verbiage must be provided by agent in writing and must be prepared by an attorney or the client.
  • TEAMS app will be utilized for communication between BFSIR agent & TC’s. 
  • If you have any questions or concerns regarding our services, please email us: [email protected]
  • TC’s Can:
    • Write & facilitate amendments
    • Audit and assist with Rechat compliance
    • Pull CAD records
    • Facilitate acquisition of support documentation
    • Communicate with Sale Manager for compliance issues or concerns

Transaction Coordinators do NOT have the ability to:

  • Execute a contract
  • Offer real estate advice
  • Perform agent tasks, such as create CMAs
  • TCs cannot activate MLS listings, post to social media accounts, initiate or facilitate concierge services, or facilitate payments or payment arrangements for 3rd party services.
  • TCs cannot create social media collateral, captions for listing photographs, or process any other marketing requests until the listing is active in accordance with NAR rules and regulations.