Contract to Close

$325 per transaction

Contract to Close services are offered on a per transaction basis. Agents will be billed on their monthly bill. In the event a transaction for which 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. With Contract to Close services, the BFSIR TC becomes involved only upon receipt of an executed contract from the agent.

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

  • 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

Reminders for Agent:

  • A La Carte services: Monday – Friday 9am – 6pm
  • Full Service – Monday – Friday 9am – 6pm + same hours as weekend assistance, Saturday 9 – 5 and Sunday 12 -5

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.