KP Transactions is a boutique transaction coordination service, collaborating with a select group of agents who share similar goals. The decision to work together is mutual and requires agreement, ensuring that our partnership is a perfect fit. Our approach ensures personalized attention and tailored support, fostering strong, productive partnerships and delivering exceptional results for every transaction.
*Once you've signed the contract below, you will be directed to complete the New Agent Onboarding Form to get started.
New Pending Files:
*To commence upon completion of the Mutual Acceptance Form: https://36biinpv.paperform.co/
● Update MLS status for listings.
● Setup brokerage specific compliance file.
● Split/Organize contract docs.
● Proofread contract *Discrepancies and errors found will be brought to the Agent’s attention for revision.
● Create a Transaction Calendar.
● Add important transaction dates to Agent Google calendar *if applicable.
● Deliver contract to Escrow along with client contact information & special instructions when needed.
● Deliver contract to Lender (or touch base introduction with buyer’s lender if on listing side).
● Send intro & Transaction Calendar to Co-op Agent.
● Send all contract documents and transaction calendar to client along with EM instructions, inspection details (if provided by agent), insurance provider/vendor referrals, escrow details and any additional next steps.
● Order/receive/deliver HOA documentation/resale certificate. *Agent to provide contact information.
*Notes: Contract should be delivered to TC fully mutual, along with fully completed KP Transactions Mutual Acceptance Form:
File Maintenance:
● Monitor timelines daily.
● Update calendar dates on agent calendars as needed *if applicable.
● Send reminders and facilitate as needed (FIRPTA, Form 17, extensions, evidence of funds, lease agreements, etc.).
● Document delivery (EM receipt, title report, HOA Docs, resale certificate) *Note: the intention of the TC role is to be one of document processing not deciphering.
● Ensure all documents are uploaded and saved (per firm compliance guidelines) to brokerage specific compliance and copies of all signed documents have been delivered to the client (if preferred) and necessary parties.
● Maintain communication with lender & escrow to make sure the transaction is staying on track; Usually at least 3 touch points: upon mutual, mid-way through the transaction, and the week prior to closing. *Additional communication as needed.
● Document/Addenda executions by TC are to be done only in emergency situations (exact verbiage should be provided by agent in writing).
Closing:
● Check in with Lender, Escrow, Agent to make sure closing is on track.
● Send “closing email” to client (signing details, utilities transfer info, walk-thru info (if provided), key exchange & possession info) (usually 1 week prior to closing).
● Request/Upload combined and individual final settlement statements from escrow.
● Deliver individual final settlement statement to client.
● Confirm listing status has been updated in MLS.
● Audit file for compliance
● Send final housekeeping update to agent.
Agent’s Responsibilities:
The following notes regarding agent responsibilities are intended to set clear expectations in our working relationship.
● Reviewing disclosures & reports with client *reminder: the intention of the TC role is to be one of document processing not deciphering.
● Drafting all contracts/addenda (once drafted, TC can then prepare and send for signatures when needed).
● All negotiations and ensuring all agreed upon repairs have been completed.
● Scheduling and providing access for inspections, appointments, appraisals, contractor bids, client walk throughs, key transfers etc. *TC may be available to assist if needed with prior notice and additional compensation.
● Communications outside of outlined scope are generally the Agent's responsibility. I am always happy to help when reasonable,
● Urgent after hour tasks that cannot wait until next business day.
● Reviewing title report & estimated settlement statement.
● Staging, lockbox & sign removal
Additional Notes:
● The purpose of the TC role is one of contract support. This can be different from a typical assistant role. The transaction remains the ultimate responsibility of the Agent and the Agent remains the main point of communication. It is the Agent's responsibility to interpret, negotiate and draft all legal documents and decisions pertaining to the transaction.
● TC correspondence will be done “Respectfully on behalf of…”. The purpose of the TC role is not to ghost write. The agent will be copied on all correspondence.
● The TC services involve contractual items from “Pending Contract to Closed”. Listing Prep services are billed separately and at an additional cost as outlined below.
● General TC hours of operation are 9-5, Mon-Fri. Requests and emails will be answered within 24 hours.
●Communications: We make it a point not to be in phone conversations with your clients. We believe that your relationship with your client should stay your relationship with your client. Therefore, we will work primarily through email. We will copy you on all emails we send out pertaining to your closing. There will be times that we need something from you or we may need you to reach out to your client or another party in the transaction.
● Total fee = $500 per closing, per side. Fee is paid through Escrow at closing whenever possible. When invoice is necessary, payment is due on the 10th day after delivery. Initially, there is no fee for terminated transactions. If the agent has a higher than average number of terminations, a fee may be considered. If the TC-Agent relationship is terminated prior to closing, a fee of $250 is due for each file not completed through closing.
***Disclaimer: TC services are clerical only.
TC does not provide real estate licensed/brokerage services.***
I have read and agree to the above terms and conditions.