How does it Work?

We realize that each bank has its own requirements. The information provided above is a general overview of the basic tasks that are completed on the behalf of your agency and the bank.

Once you have received an offer on a property, we will

1. Prepare Broker Transaction File
   
2. Daily and/or weekly transaction reporting
   
3. Obtain Copies of
   
   2. Offer to Purchase
      
   3. Agency Disclosure
      
   4. Seller Disclosure and Addendums (if applicable)
      
   5. Lead Based Paint Disclosure (if applicable)
      
   6. Agency Disclosure
      
   7. Proof of Funds/Buyer Pre-approval
      
   8. Copy of Earnest Deposit Funds
      

2. Order Point of Sale Inspections
   
3. We will complete the Seller/Bank Offer Worksheet
   
4. Submit the Offer Worksheet and Offers to the Seller/Bank
   
5. Collect Highest and Best Offers from all Buyer Agents
   
6. Notify all Buyer Agents of Offer Status
   
7. Forward Bank Addendums and Disclosure to Buyer Agent for Signature
   
8. Follow-up and Obtain all Required Signed Documents
   
9. Distribute Documents to the Appropriate Individuals
   
10. Change Listing Status in the MLS
    
11. Follow-up with the Lender on all Financing Purchases
    
12. Verify Title Status
    
13. Follow-up on all Contingencies (Inspection and Financial)
    
14. Obtain all Contingency Removals
    
15. Obtain Copy of the Loan Commitment Letter
    
16. Order HUD-1
    
17. Submit Final Broker Package to the Office (if required)
    

Transaction File Archiving – At the close of each transaction, you will receive a zip file listing the following:

1. Transaction File Cover Page
   
2. Transaction Detail Sheet (Property Details, Contacts, Comments, Financials, Important Date, and Task List)
   
3. File of all property images on hand
   
4. File of all Transaction Documents
   
5. PDF of all email communication sent and received
   

Carolyn Nelson, President

Point2Close Transaction Management Services

REO Broker and Agent Business Solutions Services