Whether you are going to sell or buy a home, you have many options when choosing who will help you. Obviously, the most popular way is to collaborate with real estate agents to help you locate a property to buy (or someone to buy your property), work in the negotiation and inspection process and be there to help you in closing. However, there are some people who simply won’t work. These people usually end up buying or selling their home without the help of any real estate professional. It is a great option if you are already used to buying or selling. But if you need more support and don’t want to work with an agent, there’s a happy way: a Transaction Coordinator in Minnesota.
The transaction coordinator is a real estate expert who handles all paperwork and delivery times. They are trained at every step of the sale. They have the task of observing progress from the moment the seller accepts the offer through the steps involved in the closing. The thing you may not know is that even agents most of the time, hire Transaction Coordinators (TC in short). TC helps them manage the documents related to the sales process. You may also not know that the vendors themselves can hire a transaction coordinator for one low fee. By hiring themselves, they do not need to resort on an agent.
Using a transaction coordinator allows sellers to get all the help they need to sell their house with confidence, at a fraction of the cost of an existing agent. Unless you have sold many homes yourself, you may not be aware of the different requirements needed to complete a real estate transaction. If you lose something or do not complete paperwork properly, leading to penalties that can even lead to lawsuits. The transaction coordinator will significantly reduce the pressure from selling the property.
Duties of a Transaction Coordinator
- Read contracts to summarize all basic terms and conditions and dates.
- Coordinate the closing process.
- Give updates to customers, agents, lenders, and other people involved in the transaction.
- Schedule customer follow-up calls (after closing) to register and request references.
- Coordinate Inspection, repair of negotiations, and completion of repairs.
- Talk regularly with the client to send them reminders, and inform them of what to expect at each step of the closing process
- Be sure to send all documents
- Talk to the agent multiple times during the transaction, including all critical dates, missing documents, calendar reminders, file compatibility status, etc.
- Obtain waivers wherever applicable.
- Make sure there are tax withholding exemptions.
Advantage of Having a Transaction Coordinator
When you select a real estate transaction coordinator in Minnesota, you will immediately have a trusted ally on your side. Very often, the transaction coordination fee is paid only once, which means that your TC does not work on commission. Since they are not prejudiced and are working directly for you, Transaction coordinators are happy to answer questions and review your contract to make sure there are no discrepancies and verify that the sale details are in the best interest for you. The transaction coordinator also ensures that the sale is completed as soon as possible. Delays in the real estate sector can generate unexpected charges, from the extension of the buyer’s guarantee to the payment of an additional day for the agent’s time.
TC manages documents and closely monitors deadlines; They can rush a check to the escrow agency, send reminders to the buyers and their agents, even attend the closing process to make sure everything is done as planned. Your real estate coordinator has the one thing you need to complete the sale: industry experience. With years of real estate experience, TC can:
- Coordinate exhibitions and open houses.
- Get signatures from all the parties involved.
- Send deadline reminders to you and the buyer.
- File appropriate paperwork, and inform you if something is missing.
- Check your contract for any inconsistency.
- Talk to buyers, agents, and other industry professionals on your behalf.
- Give copies of the contract to all the parties.
- Coordinate your move-out schedule.
- Complete any needed details after the sale have closed.
- Create a transaction management file that has all the details in one place.
If things in the list above seem overwhelming, you’re not alone. Buying and selling property can be stressful as there is a lot to know and do. But you do not have to do it alone. With a Transaction Coordinator in Minnesota, you can get the full support of the seller at each and every step, from the moment you list to your home, until the moment you sign the last signature and hand over the keys. It’s like hiring an agent, but better! Pay a low price, reduce your stress, and save a lot of cash! You can benefit from our comprehensive services at less than the cost of selling your home the traditional way.