Transaction Coordinator Services
Transaction Coordinator Services: The Real Estate Closing Process
Real estate is an exciting yet very complex industry, and it has the laws and regulations to prove it. The closing part of the transaction process is a very important step and must be carried out completely and legally.
To ensure that happens, most brokers, agents, and other selling parties choose to hire a real estate closing coordinator. With these transaction coordinator services, you can rest assured that all will be taken care of as it should. The following are some of the most important steps a real estate closing coordinator fulfills:
Ensure Laws and Regulations Met
Experienced transaction coordinators are familiar with real estate laws and regulations, and they stay up to date on any changes or additions. They ensure that those laws and regulations are met.
Confirm Repairs and Inspections Complete
If any repairs, inspections, or other services were required during the transaction, the transaction coordinator will make sure that they have all been completed. If they have not, the coordinator will have it done as quickly as possible.
Title and Appraisal Review
Along with confirming inspections is the appraisal review. The coordinator will review the appraisal, ensure that it meets regulations and that any stated inspections are done. Additionally, the coordinator ensures that a proper title search was conducted and that the title is able to be transferred to the buyer.
Confirm Escrow
It is hard to have a transaction with the financial aspect. The coordinator takes care of multiple parts of it, including confirming that the required money is in escrow and is being used as stated.
Ensure Insurance Policies in Place
Most lenders require that the buyer carry a certain level of insurance on a home either until the mortgage is repaid. The real estate transaction coordinator will verify that the necessary insurance is in place.
Confirm Loan Details
The transaction coordinator also works with the lender to ensure that all of the buyer’s financing is lined up, that all of the details agreed upon are being carried out, and so on.
Confirm All Documents Present
During closing, part of transaction management services is to make sure all documents have been received, signed and initialized as required, and that everything necessary is present. Without this step, it could delay the entire transaction.
Finalize Documents and Store
The coordinator will then help finalize the transaction by having all properties sign off on the closing. He or she then sends the documents to the necessary parties and files his or her own away.
For assistance with closing your real estate transaction, search for "transaction coordinator near me" for local results or consider hiring a remote coordinator.
If you are in California, we've got you covered. Let Accurate Transactions ensure an efficient and successful transaction closing. Contact us today!