Transaction coordinators perform critical functions in real estate transactions. Real estate agents often use transaction coordinators to handle the administrative tasks associated with a home sale/purchase. Chances are if you have sold or purchased a house with an agent you have at some point worked with a transaction coordinator.
Your transaction coordinator will guide you through the complex escrow process and will make sure all your paperwork is completed, time frame obligations are adhered to, and legal disclosures are filled out. The following is a list of their typical services.
- Open escrow
- Provide legal disclosures
- Prepare paperwork for digital signatures
- Order Natural Hazards Disclosure Reports
- Arranging inspections if needed
- Ensure all parties adhere to contractual deadlines
- Ensure all documentation is submitted on time
- Communicate/Coordinate with all parties to ensure smooth closing
When the seller and buyer complete the negotiation process through Homepie’s website and come to an agreement, a Purchase Agreement is generated and sent to all parties for digital signature. Once all parties have signed the Purchase Agreement, a Homepie representative will reach out to you with information about a transaction coordinator. Transaction coordinators take you from contract to close of escrow. This is an optional service that is provided by an independent organization. Homepie highly recommends the use of a transaction coordinator. They are essential to help facilitate the smooth completion of your sale and they will be your main point of contact all the way through close.
Homepie has negotiated a special rate of $299 per each side of the transaction if both the buyer and seller uses them, the seller pays for their side and the buyer pays for their side. As a comparison, real estate agents pay transaction coordinators up to $500 per side. Their discounted fee will be money well spent to make sure nothing falls through the cracks and your escrow process remains on track for a timely closing.