From ensuring all documents are completed accurately, to coordinating the final key exchange between buyer and seller, the contract to close coordinator is the wheel on which a real estate transaction flows smoothly till the end. Real estate involves selling homes and landed properties. Selling homes involves tons of paperwork. Dealing with tons of paperwork takes time. And many other deals may be knocking on the door. But you’re busy. Tied down by paperwork you must attend to.
But must you?
The Contact to Close Coordinator
Real estate transactions aren’t simply straightforward. Some complex procedures and laws have to be adhered to. Finalizing a real estate deal involves the careful ticking of these boxes without which there can’t be closing.
The good news is that agents and even buyers have come to trust the competence of Contract to Close Coordinators, who manage the process and ensures all of the complex real estate requirements are duly met.
While these closing procedures are being finalized, the agent can go on hunting for more sales, while the buyer can rest assured that the process is in safe hands. Everyone is happy.
Selling (or buying) a house is more than just signing a few dotted lines. There are lots of dotted lines. And that’s not all. Other details must be attended to before the process is completed.
And talking about the process. It starts from the Offer and acceptance to closing, recordation, and possession. In other words, it starts from contract to closing. And if selling homes is what you love doing, not being drowned in endless paperwork; a contract to closing coordinator is who you need.
So, what does a Contract to Close Coordinator do?
The contract to close coordinator is responsible for the smooth running of the real estate transaction.
However, that looks like a simplistic explanation.
Let’s look at some of it in detail:
Scheduling all Inspections
It is the duty of the Contract to Close Coordinator to schedule all inspections and ensure they are done as scheduled. Inspections are a very important part of the transaction. The agents can be busy tidying up other deals while this happens.
Review of Documents
The coordinator reviews the title and other necessary documents to ensure accuracy and compliance with required guidelines.
Confirming Financial/Insurance Details
A major aspect of the closing coordinator’s task is the coordination of the financial documents. He liaises with the banks financing the deal to confirm the transaction, while also ensuring that the financial interests of the buyer are protected throughout the transaction. He also ensures that all necessary insurance policies have been purchased depending on the requirements.
Coordinating with all parties
The coordinator also ensures that there is smooth coordination with all parties involved throughout the transaction. If any document is missing, the concerned party is duly notified. The closing coordinator ensures that the process is concluded smoothly.
The job of a contract to closing coordinator is not just to make the transaction easier and coordinated, it is to ensure the process is a win-win scenario for everyone involved.
Want to simplify your life? Sign up for a sales call with us today!
Hi, I’m Sean and welcome to Close Concierge. I’m a licensed real estate agent in the state of IL (license #475202452). I’m also an active real estate investor and previously was CEO of a transaction coordination company, as well as a property manager. In total, I’ve been a party to more than 600 real estate transactions! I write on this website about once every week to answer some of the most common questions I come across on a day to day basis within real estate.