Transaction Coordination

The primary job of the real estate agent is to find the home, right?  Wrong!  That's the easiest part of being an agent.  The difficult part begins when the negotiations are complete, and the paperwork has been signed by all parties.  What happens then is that someone has to make the deal happen.

Transaction coordination is the strict adherence to a series of crucial timelines set forth in the purchase and sale agreement.  If that sounds like legalese, it is.  When you have a purchase and sale agreement, the agents are actually practicing a narrow form of contract law.  There are deadlines that can result in forfeiture of earnest money.  There are deadlines, where the buyer can escape from the deal if conditions are not met.  Not responding can lead to disaster, or the at the very least the loss of valuable rights. 

Examples?  A buyer has a few days to get the home inspected, and the right to back out under certain conditions if the inspection does not go favorably.  If this deadline is missed, a buyer may be forced to either lose his earnest money and possibly face a lawsuit, or purchase a home with serious defects.  A buyer has a set period of time to obtain financing.  If the buyers cannot get financing, they can get out of the deal and get their earnest money back.  The sellers, however, must issue a demand of proof of financing at the end of the financing contingency period.  If they do not, the buyers can continue to enjoy the protection of the financing contingency escape clause. 

Sound confusing?  It is, and it takes experienced agents to protect your rights.  We take this responsibility  seriously, and make transaction coordination our top priority.