A Good TC Minds Their Ps and Qs

Here are reminders of some of the more intricate ins and outs of the client-agency proposition.  Pertinenet information for new agents and good review for experienced ones.  All of Agent Files Transaction Coordinators are licensed and experienced with all aspects of the home buying process.

Ps

(Notice to) Perform

This is the remedy when one of the parties to the contract fails to meet a contractual deadline.

Pricing properties

Sellers set the offering price of their property, and buyers offer the price they’re willing to pay. Supply and demand work in every market. So, if everyone is realistic, those numbers will be close together. The market almost always determines the price of the home.

Property taxes and pro-rated items

Your transaction coordinator will explain pro-rated items in detail when they draw up closing documents for review. But there’s so much information to process and so many foreign concepts to become aware of that clients can easily be overwhelmed. Agnet File TCs head off some of that overwhelm by proactively managing the file and discussing these things up front.

Qs

Closing escrow

Sellers seem to be more confused about this term than buyers, maybe because buyers are facing a due date to fork over a large amount of cash. However, both buyers and sellers often think they have to actually do something on the date escrow closes.C

Counter offer

Sellers should know that any counter offer they make, by definition, is a rejection of the offer in hand. If they counter it, their buyer could decide to walk away from a seller who refuses their original or any subsequent offer.

Buyers, by contrast, need to be aware that a counter offer leaves the seller in a position to accept other offers if they do not respond quickly and favorably to the counter.

Contractual Timeline

The contract specifies deadlines for inspection and other contingency to be released, appraisals to finished, loan approvals granted and so forth. Our transaction coordinators extract this timeline and provide it to all involved parties. Having an electronic copy and a hard copy helps clients who keep their timeline visible. For seller and buyer peace of mind, we also send “here’s what to expect this week” notices to our clients.

What better time to start offloading the file management burden and receive maximum value for your dollar than at the start of the listing process.  Follow the link to see the exceptional value offered in various  dual agency scenarios.

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