After you list the property
- As soon as you get a listing, contact a title company to order preliminary title
- Work with your Account Manager to gather a mailing list for Just Listed postcards
- The title commitment will arrive within a few days via email… review it and contact your title officer with any questions you might have
- Your Account Manager will review the title as well and email you in regards to it
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If a title inspection is deemed necessary upon completion of the title commitment, the title unit will notify you via email that a title inspector will be coming out to the property within a few days
After there is a signed Purchase and Sale Agreement
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Once you have a mutually accepted purchase and sale agreement, contact Escrow and update the file with the buyer and lender information
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The title unit will send out updated commitment to all parties in the transaction within a few days via email and hardcopy, as applicable
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Send earnest money check to Escrow within 3 days of receipt or mutual acceptance
- Escrow will send a receipt for the earnest money once it’s been received
- The day they receive set-up, your Escrow Closer will contact the seller and buyer to introduce themselves and their team
- Escrow will begin to request information from the seller and underlying lender regarding pay-offs. Call immediately if you have any questions or concerns
- Escrow will receive and review loan documents and will prepare settlement (HUD) statements
- Carefully review the settlement statement and documents with your seller and contact your Commonwealth Escrow Closer with any questions
- Your seller will sign within a week of the final closing date
After all parties have signed
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The file will record after both parties have signed and the new lender has deposited loan funds into escrow
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Once it has recorded, escrow will contact you with recording numbers
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Call your clients to let them know it has recorded
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Commissions will then be delivered to the broker/accounting office on the next business day
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Final HUD statements will be sent to your seller
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Make a follow-up call to your sellers