THE INTENTIONAL TC
SCOPE OF DUTIES:
- Obtain and review the purchase agreement as pre-negotiated between the buyer and seller.
- Ensure that Buyer, Seller and both Real Estate Agents have signed and initialed all contractual documents.
- Review Contract - Immediately bring any concerns or questions to Agents.
- Verify Escrow has been opened OR Open escrow & obtain the escrow number.
- Send Coop Agent/TC, Escrow & Lender Formal Introduction Letters and copy of All Contract Documents
- Order the Natural Hazard Report and Home Warranty Policy. Distribute copies to Coop Agent/TC, our Agent & Escrow.
- Consult with Listing Agent/Seller in scheduling a Termite Inspection (if required). Instruct company where to send the report.
- Prepare the Seller Disclosure Package for seller to complete using California Association of Realtors (CAR) Winforms. (All in accordance with: http://www.dre.ca.gov/disclosures.htm PLUS SDAR & Nitzel Forms)
- Contact Coop Agent/TC to Obtain Disclosure Package, if we represent the buyer.
- Review Disclosure Package for Completeness PRIOR to Sending to Buyer Agent or Buyer.
- Send all the seller disclosures to the buyer or buyer’s agent for signature and return. Once returned, review the documents for completeness and all required signatures, dates, etc.
- Return All Seller Disclosures to the Listing Agent, if we represent the buyer, and ask for any items we still need for file completion.
- There are over 21 types of disclosure/inspections a buyer is entitled to. The TC will ensure inspections and/or waivers are in file.
- Follow up on the status of buyers home inspection and let the seller know when that date is. Should buyer elect not to have one, prepare the “waiver of inspection” form for buyer signature. If buyer is requesting repairs or credits, send Seller Statement of Repairs PRIOR to Walk Thru to complete so buyer will have at time of Walk Thru. IF Credit, confirm with escrow an Amendment has been drawn.
- Follow up with escrow to ensure that the buyer has deposited the earnest deposit check and has returned their escrow documents.
- Regular follow up with all parties to ensure the file is proceeding.
- Follow up weekly on missing paperwork from all sides of the transaction (buyer/seller/agents)
- 1 week PRIOR to COE, make sure that our file is complete. IF NOT, make sure we have ample evidence of requests for missing documents in file for a paper trail. If still not returned, let Risk Management Specialist and our agent know of missing documents.
- 5-7 days PRIOR to COE, email Risk Management Specialist to Audit File.
- Remind our agents about the arrangement for transfer of keys and move out plans, including reminders for utility account transfers.
- Upon Confirmation of Recording, Submit File to Broker / Agent
Parties to a transaction include, but are not limited to:
- Buyer
- Seller
- Real estate agents for either or both sides
- Transaction coordinators
- Escrow Company
- Title Company
- Lender
- Natural Hazard Company
- Termite Company
- Appraiser
- Home Inspectors
- Home Warranty Company
- Repair and other vendors
- Attorney, accountant or other professional brought in by buyer or seller