MREA Contract to Close

Transcription

1 Millionaire Real Estate Agent MREA Contract to Close Forms A Course for the Millionaire Real Estate Agent Team

2 Parties of the Sale Agent: Transaction: Seller / Buyer Representation: Our Client Buyer Seller Res. Condo Resale New Construction Property Address: Sales Price: $ (# & street name) (city, state) (zip) SELLER In CMS Name(s): Address: City, State, Zip: Work Phone: Home Phone: Fax: Cell: BUYER In CMS Name(s): Address: City, State, Zip: Work Phone: Home Phone: Fax: Cell: CLOSING COMPANY In CMS Company: Closing Agent: Assistant: Address: City, State, Zip: Work Phone: Home Phone: Fax: Cell: MORTGAGE INFORMATION In CMS Company: Loan Officer: Loan Processor: Address: City, State, Zip: Work Phone: Home Phone: Fax: Cell: Closing Date & Time: CoOp Agent Name: Fax Work Phone Cell Referral: Yes No Fee Agent Info: 2

3 Contract Worksheet Agent: Transaction: Seller / Buyer Res. Condo Resale New Construction Representation: Our Client Buyer Seller Property Address: Sales Price: $ (# & street name) (city, state) (zip) CONTRACT SETUP INFORMATION Effective Date of Contract: Contract receipted by: Possession date: Settlement/Closing date: Greensheet completed and turned into KW MC DA received and verified against Greensheet Seller s disclosure signed & initialed by all parties Seller closing packet sent Buyer closing packet sent Info entered in Contact Database DEADLINES PER CONTRACT Mortgage Company: Financing: CONV FHA VA OTHER Years Fixed ARM Loan Application: Loan commitment due: Received Option deadline: Option Check delivered/received Appraisal ordered Appt Date.: Appraisal Received Appraised Value: $ Submitted to underwriting Loan Docs Ordered Final loan approval Paperwork delivered (Intro Letter, Parties of the Sale, Update Requests, etc.) Inspections: Inspection deadline: Repair limit addendum deadline: Repair limit:$ Inspection Results Received: Contract amended for Repairs Repairs Completed Termite ordered: Termite completed: Termite Limit: $ Termite treatment completed: Closing Company: Title commitment ordered: Received Reviewed Survey ordered: Received Additional Escrow/Earnest Due: $ HOA resale certificate ordered HOA certificate received Paperwork delivered (Intro Letter, Parties of the Sale, Update Requests, etc.) Other Insurance for Buyers: (Flood, Earthquake, etc.) Insurance: Buyer arrange for insurance: Seller cancelled insurance: (After it has recorded) Yes No Yes No PRECLOSING DEADLINES Bills/receipts to Closing Company Keys to Closing Company HUD to seller DA faxed to Closing Company Utilities transferred Buyers Walkthrough date & time: Coop water transfer: HUD to Buyer/Cashier Check: Seller leaseback? CLOSING STATEMENT (HUD) INFORMATION Fees: Appraisal: Commissions: Total: $ Split: %Listing %Selling MLS Fee Processing Fee Closing Costs Points Survey: Company: Not to exceed: $ Inspections Warranty NonAllowable: Included Not Included Not to exceed: $ Additional Items to be covered: Short Term Reissue rate or Investor Rate applicable for our client? (Title Policy Discount) Termite Company: Not to exceed: $ Repairs Show as: Credit Closing Costs HOA Transfer: Other *Pd by: S= Seller B= Buyer B/S= Buyer pays, Seller reimburses S/B= Seller pays, Buyer reimburses SP= Cost is split MREA ADMIN: CONTRACT TO CLOSE v KELLER WILLIAMS REALTY, INC. 3

4 Submitted by: FIELDS IN RED ARE REQUIRED FOR SUBMITTAL PLEASE SUBMIT WITH COMPLETE CONTRACT AND MLS PRINTOUT 2006 KELLER WILLIAMS REALTY, INC. (Office Use Only) (Office Use Only) DA# 1 Type: Class: Source of your Client: Property: Listing Side: Selling Side: 2 PROPERTY MLS # MLS Area: Street # Street Name: State: Zip: County: Subdivision: Map Grid: 3 Buyer's Name: Phone: Current Address: City/St/Zip: Will Owner Occupy? Yes No Fax: 4 Seller's Name: Phone: Current Address: 5 COBROKER Company Name: Amount to pay Selling Broker if your Listing $ Keller Williams Realty GREENSHEET: Contract to Close Address/St/Zip: Close Date: Phone: Recruiting: Have you talked to this agent about Keller Williams? Agent Name: Contract Date: Phone/Fax: Tax ID # If No Why not? Would we want this agent on our team? Why? 6 MORTGAGE CO. Required for Type: Sale or Both Company Name: Phone: Fax: Address: Loan Amount: Loan Officer: State: Zip: Loan Type: 7 CLOSING COMPANY Close File ID# Company Name: State: Address: Zip: Closing Officer: Phone: Fax: 8 HOME WARRANTY INFORMATION Who is paying for Warranty: Warranty Provider: Address: State: Zip: NOTES: Please use the space to include any additional notes or additional information. Warranty ID# OFFICE USE ONLY Transaction Not Closed Date TNC in Computer Team Leader's Accept Date: Initial Reason for Transaction Not closed Revised 06/23/2006

5 Greensheet: Page 2 ONLY ONE GREENSHEET SHEET PER PROPERTY. This is an information sheet only. All KW Associates and Referrals MUST APPEAR on this sheet. The MCA will generate final numbers and a Disbursement Authorization. Property Address: Sale Price: Enter Commission Percentage PERCENTAGE COMMISSION For our MC Side ONLY Listing Commission % 0.00% $ 0.00 Sale Commission % 0.00% $ 0.00 FLAT COMMISSION $0.00 Enter Flat Commisson For our MC Side ONLY Listing Commission Sale Commission $ $ GREENSHEET ASSOCIATE DETAIL ASSOCIATE A ASSOCIATE B ASSOCIATE C A. Associate ID (last 4 of SSN) B. KW Associate Name Associate Role (Individual,Team Lead,Buyer Asst, Listing Asst. etc) C. Type: Listing, Sale, Inside or Other D. Class: Property, Lease, Referral, Other E. Agency: Buyer, Seller, Dual, Other F. Listing Unit G. Sales Unit H. Associate Written Volume I. Gross Commission J. Outside Referral to Other Broker * () () () K. Concession to Buyer or Seller () () () L. Bonus Split with MC or 100% to agent? (+) (+) (+) Subtotal (Calculate "N" and "O" from this number) M. % Associate Commission Split and Subtotal N. Associate Royalty () () () O. Agent Franchise (coming soon!) () () () P. Inside Referral () () () Q. KW CARES Donation () () () R. Other Deduction () () () S. Other Deduction () () () T. Other Deduction () () () U. Other Deduction V. Buyer's Home Warranty (if paid by Agent) () () () NET COMMISSION = A) B) C) * OUTSIDE REFERRAL DETAIL ( Use only if you are paying a referral fee to someone outside your MC) Paid by Associate Broker/Company Name/Agent Phone: Dollar Amt: A B C Referral's Tax ID# Address: Fax: State: Zip: address: * OUTSIDE REFERRAL DETAIL ( Use only if you are paying a referral fee to someone outside your MC) Paid by Associate Broker/Company Name/Agent Phone: Dollar Amt: A B C Referral's Tax ID# Address: Fax: State: Zip: address: * OUTSIDE REFERRAL DETAIL ( Use only if you are paying a referral fee to someone outside your MC) Paid by Associate Broker/Company Name/Agent Phone: Dollar Amt: A B C Referral's Tax ID# Address: Fax: State: Zip: address:

6 Settlement Summary for Escrow Settlement Company: Attention: Date: From (Closing Agent): Property: Seller Names: Seller SS# My name is<your NAME>, and I am the closing manager for<agent OR TEAM NAME>. I understand you will be conducting the settlement for the above referenced property. Should you have any questions regarding this closing, please contact me, not<agent OR TEAM NAME>. To help you with this transaction, I am providing you the following information: Date of Settlement: Special Earnest Money Instructions: Termite Inspection will be done by and paid for by Seller/Buyer, not to exceed $ Commission Split: % Selling Agent and % Listing Agent. Bonus of $ paid to and paid by Transaction fee of $ payable to <COMPANY NAME>, paid by Seller per listing agreement. Transaction fee $ payable to <COMPANY NAME>, paid by Buyer per agreement. Appraisal shall be paid for by Seller/Buyer/ Seller and reimbursed by Buyer/Buyer and reimbursed by Seller. Home Warranty to be paid by from cost $ Rent Back agreement at the Purchasers P.I.T.I., plus $ to be held in escrow, per agreement. Post settlement agreement rent adjustment/credit of $ <COMPANY NAME> also need to be reimbursed for the following items. Check should be made payable to <COMPANY NAME> Expect repair/maintenance bills on this property. Please call before preparing your preaudit statement. Lender Name: Payoff: Loan #: Phone: Seller qualifies for the shortterm reissue rate on their title policy. (Discount on Title Policy fees) CoBroker Agent: Buyer s lender will be: Attn: Other: Other: Please be sure to fax us a copy of the preaudit statement and payoff statements as soon as they become available and before close of escrow. DO NOT CLOSE ESCROW UNLESS WE APPROVED THE PREAUDIT SETTLEMENT STATEMENT. Thank You! <YOUR NAME> <PHONE NUMBER> < ADDRESS> 6

7 Closing Company File Status Update Closing Company: Attention: Date: From (Closing Agent): Property: File Number: Contract and earnest money received: Earnest Money Receipted: Additional Earnest Money Receipted: Introduction letter mailed to customer: Payoff/Assumption statement ordered: Payoff received: Commitment sent to lender: Commitment sent to buyer s agent: HOA Info/Resale certificate received: Survey ordered or existing survey verified: Survey received and sent to lender: Hazard insurance information received: Termite inspection received: Repair invoices/receipts received: Home warranty ordered: Lenders docs received: HUD Statement approved: Closing Schedule: 7

8 [Click here and type today's date] TO: [Click here and type loan processor's name mortgage company name] RE: [Click here and type buyer's names] Dear Loan Processor: I want to inform you that this file has now transferred to the Closing Department for processing. The closing team member(s) who will handle this file is: Closing Manager Phone Number Team Leader Phone Number Please address any questions or concerns directly with the Closing Department. They are highly qualified, licensed and trained to handle most questions or concerns, including repair and appraisal issues, but will always forward any necessary questions or problems to me. The deadlines we have calculated are as follows: Deadlines Effective Date: Loan Application Deadline: Closing Date: For your information: Closing Company/Phone #: Buyer s Agent/Phone #: Seller s Agent/Phone #: [Click here and type closing company's name and phone number] [Click here and type your name and phone number] [Click here and type coop agent's name and phone number] Thank you for your cooperation in this matter Sincerely, [Click here and type your name] Keller Williams Realty [Click here and type your website] Lender Introduction Letter.doc 8

9 Lender File Status Update Lender: Attention: Date: From (Closing Agent): Borrower Name: Property: Please check all that apply: Loan application made. Date: Trimerged credit report received. Any issues: Verification of Employment (VOE) mailed out. Received: Verification of Deposit (VOD) Where are they getting the money? Gift Letter Needed? Ratios: How do they look? Appraisal ordered? With whom? Verify Insurance. With whom? Additional items needed: Thank you very much for taking the time to complete this request. Your cooperation is greatly appreciated. You may fax your response to<fax NUMBER>. I will update<agent's NAME>. Please let us know immediate if you feel you will not be able to provide a conditional loan approval letter by: as per the purchase contract. Thank you, 9

10 [Click here and type today's date] [Click here and type recipient s name & address] Dear Client: CONGRATULATIONS! Your home is under contract. In order to get to closing, it requires a team effort. The Closing Department has enclosed an overview of what to expect between now and closing. It is very important, so please read it carefully. Important Information to Remember Effective Date: Maximum Out of Pocket for Repairs: Closing Date: Maximum Out of Pocket for Termite Treatment and/or Repairs: Reaching a successful closing requires paying attention to an incredible number of details. The Closing Department will work closely with you now to make sure all details are handled. Closing Manager Phone Number Team Leader Phone Number IMPORTANT NOTICE: As you may imagine the closing department spends a great deal of time on the phone following up on the many details required for a successful closing. If you do reach their voice mail please leave a message, they do check messages frequently, and will return all calls as soon as possible or during the time mentioned in their voic . Your Closing Team is highly qualified, licensed and trained to handle most contract concerns. We are always available for you, but it will help if you direct your questions to the Closing Department since they will have your file at the office. But if at any time you need to speak with us personally, please let the Closing Department know to have us call you and leave a convenient time for us to reach you. As always, our goal is to have a smooth closing process and relieve any unnecessary stress. Please feel free to contact us with any questions. Sincerely, [Click here and type your name] Keller Williams Realty [Click here and type your website] Seller Closing Introduction Letter.doc 10

11 Ways To Communicate In order to exceed your expectations and make this a smooth and successful closing, we d like to find out your expectations of us and let you know what our expectations will be of you. Name: Property: WHAT YOU CAN EXPECT FROM THE CLOSING TEAM Closing Team s Hours: [Click here and type hours of operation] As you can imagine, we are on the phone all day long following up the many details of our clients transactions. If you get our voic , please leave a message, letting us know the best time to reach you, and we will respond promptly. YOUR COMMUNICATION EXPECTATIONS 1. During the day, what is the best way to contact you? HOME PHONE WORK PHONE CELL PHONE PAGER Appropriate Number or Address: 2. If we need to call you at work, what days/hours do you work? Phone # Ext. 3. If we have things to get signed, what is the best way to handle it? FAX HOME FAX WORK COME IN TO OUR OFFICE Fax Number 4. How often do you expect to hear from us? ONLY WHEN THERE IS NEWS WEEKLY OTHER THE CLOSING TEAM S EXPECTATIONS OF YOU 1. Don t hesitate to call if you have any questions or concerns. If we don t have the answer, we will find the answer or point you in the right direction to get the answer. 2. Timely return of phone calls if any return information is required. 3. Timely return of all documents requiring signatures. Please return this form immediately with any other requested paperwork in the envelope provided! MREA ADMIN: CONTRACT TO CLOSE v KELLER WILLIAMS REALTY, INC. 11