Multi Family

Benefits of the Transaction Coordinator

Our goal is to provide a professional service that will benefit our agents, buyers, sellers, their attorneys and mortgage lenders.   

  The buyers and sellers of a real estate transaction will be able to reach the Transaction Coordinator during business hours to answer questions when their agent may not be available.  The Transaction Coordinator can advise them of the procedures involved in getting a transaction to closing and what is expected of them.

 Often times our agents are busy on other appointments and may be unavailable during a part of the day. The Transaction Coordinator can answer questions for attorneys and mortgage lenders to keep everything on track.  She can forward any necessary paperwork and schedule appointments for appraisers and inspectors.   Our agents can rest assured that the details of your closing are being handled promptly.

 If a problem or concern arises during a transaction the agent(s) involved will be notified so that he or she may consult the buyer and/or seller to begin working on a solution. 

Some of the duties of the Transaction Coordinator include:

  • Meet with the buyer’s agent or seller’s agent if we’re handling the listing side, and go over the contract to fully understand all the contingencies and any potential closing issues.

  • Forward the contract, attorney information sheet and deed to the closing attorney(s) involved.

  • Contact the buyer’s lender, if applicable, to make certain the buyer has applied for mortgage within the time frame of the contract.

  • Order all test(s), if requested, and schedule appointments when applicable. 

  • Schedule appointments for appraiser, when applicable, and get all the information on the property ready for him/her.

  • Follow up with the mortgage lender and inspector(s) on test results and getting written documentation in the office for the attorney(s) and lender.

  • Keep the buyers and/or sellers and agents informed of the progress of the transaction, ie: test results, mortgage commitment, etc.

  • Check to make certain that all contingencies have been met and forward mortgage commitment and test(s) results to the attorney(s).

  • See that the closing is scheduled and advise the agent(s), buyer(s) and/or sellers.   Also, advise Lu Ann Lynn of the closing so that she may prepare the file and get the escrow check(s) ready.

  • Request the HUD settlement statement from the attorney for the agent(s) to review before closing. 

  • Remind the selling agent to schedule a walk-through inspection for the buyer before closing.

  • Remind the sellers, or their agent on cooperating broker sales, to have final readings done on all utilities, garbage service, etc.

  • After closing, send our client a Satisfaction Survey for feedback on the service that they received.

These are general guidelines that are followed for most real estate transactions.  Every transaction is unique and may require more or less attention.  Our goal is to make it as smooth as possible for our consumers.

 

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ERA Richmond Real Estate Service

751 N. Main St.
Meadville, PA 

16335, USA
(814) 337-6000

Fax 814-333-1927

190 Water St.
Conneaut Lake, PA 

16316, USA
(814) 382-6000

Fax: 814-382-4001

631 W. Spring St.

Titusville, PA 

16354, USA
(814) 827-7355

Fax 814-827-7529

era@era-richmond.com

“It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin.”

Office License # RB065248     Broker License # RM419108

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