Understanding the Transaction Process
When you’re an agent, you represent your clients. Whether it’s the buyer or the seller, they are the principals in your real estate deal.
Opening escrow starts the transactions process. The escrow company is responsible for ensuring that every stipulation of the contract is met. They act as a neutral third party to protect the deal’s integrity.
But, they don’t exactly work for you. Transaction coordinators get their fees from the seller.
All the required contracts and disclosures involved with the transaction must be completed and signed by all parties. This usually falls on the agent, but you can hire a transaction coordinator to do this for you.
What You Can Expect From a Transaction Coordinator
A transaction coordinator’s goal is to handle contracts and disclosures. They are responsible for ensuring that all documents are completed in the proper time frame.
The offer will outline when certain documents are due and which parties get them. The transaction coordinator will …