Should You Hire A Transaction Coordinator?

Hiring a Transaction Coordinator dramatically reduces the stress on managing your clients. A transaction coordinator will make certain that everything stays in the right direction. They’ll assist you from contract to close seamlessly and fast. Transaction Coordinators also are efficient in coping with any issues that can emerge within the transactions with the consumers or any third party vendors and they’re additionally your factor of touch whom your clients can check within the event that they have any inquiries, and likewise, whom you could rely on to behave as a messenger.

Below are some of the things a Transaction Coordinator does:

Verify that all required signatures and initials are on the contract and addenda.
Verify that all required addenda are included with the contract.
Fill out commission disbursement forms.
Open file with the escrow or title company.
Open and update the title search.
Send copies of the contract to the other agent, buyer, seller, and lender (as directed by agent).
Upload documents for shared viewing.
Send deadline reminders as needed throughout the transaction.
Follow up with the escrow company, lender, and other agents as needed. Keep agent informed of those communications.
Ensure that all paperwork is provided to all parties.
Request an estimated HUD-1 statement for agent to review.
Follow up with the escrow or title company on the closing day.