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PROCESS A TRANSACTION
Congratulations on your sale !
INTRODUCTION
Please read the following items VERY CAREFULLY. It will keep both
of us from losing our licenses and being sued in a court of law !
Included on this How To Process A Transaction page is all the
information you need to completely process your transaction.
It is extremely important that you follow ALL the instructions
properly to have a smooth transaction and avoid being sued by clients
and losing your license. Being an agent for a real estate transaction
is a serious undertaking that needs to be conducted with the utmost
professionalism and thoroughness to every detail.
If you do not feel comfortable processing your transaction yourself and/or, if you prefer to spend your time acquiring your next sale, then using our in-house professional Transaction Coordinator is highly
recommended. 90% of agents use a TC. The fee for CURB’s in-house Transaction Coordinator to process
your entire transaction is $995 for the VIP Contract to Close Service or $395 for the Standard TC Service.
To have your own personal Transaction Coordinator handle your paperwork, please contact: CurbCA@CURB.estate or 888-279-4230 x 2
Talk about one-stop-shop, CURB has our own in-house escow company, Better Escrow, for you and your buyers and sellers to utilize. When representing a seller (or even buyer), we will open escrow for you with Better Escrow. Keeping your transaction under one roof and one phone call is priceless. There is NO additional fee for our Escrow service. Tessa, CURB's escrow officer, will be processing your escrows.
Plus, when you are using our in-house Transaction Coordinator service they will even set up all
your escrows for you. ..One less thing for you to deal with. Literally one call and one person does it all for you.
* CURB bonus; when you use Better Escrow you get paid directly into your bank account the same day your transaction closes ! Tessa@BetterEscrowService.com or 818-962-2367
HOT TOPICS
Important Items To Processing a Transaction
AGENCY DISCLOSURES
BEFORE engaging in ANY aspect of a transaction with a buyer or seller you must get an Agency Disclosure signed by your clients. This is the very first item that needs to be signed and dated before anything else.
DEPOSIT CHECKS
NEVER NEVER NEVER (..did I say never ?) receive a deposit check from a buyer.
In order to get a buyer's deposit into escrow after an offer is signed and accepted, simply give the buyer the phone number and email address to the Escrow Officer handling their transaction. The Escrow Officer will let your buyer know how to get their deposit into escrow properly.
PRELIMINARY TITLE REPORTS
Agents must read Preliminary Title Reports.
Contact your Escrow / Title officer right away if you notice anything outstanding in the report. Your Escrow Officer will then take the necessary steps to rectify the issues.
TDS (Transfer Disclosure Statement)
In the agents portion of the TDS, make sure you note EVERY issue you see with the property during your own preliminary visual inspection, as well as your final visual inspection with the buyer the day before escrow closes. Even a brand new house has issues, so make sure you note all outstanding items. If no items are noted it will bite you later! Taking photos of issues is a fanny saver.
EMAILS
Keep ALL emails on every transaction in your email server, and/or your transaction file for 3 years.
Get EVERYTHING in writing or email. ..If it’s not in writing, you ain’t got doodly-squat.
LEGAL ISSUES
If you have any concerns regarding the legal or ethical nature of your transaction, please call CURB Realty to discuss the issue before you take action. If you are a CAR member you also have access to contact an attorney for free: legalhotline@car.org or 213-739-8282
HOW TO START A NEW TRANSACTION
If you are utilizing CURB’s amazing in-house Transaction Coordinator service:
Do not open an escrow, your personal CURB TC will do this for you
Listing Agreements need to be submitted within 24 hours of sellers signature - CurbCA@CURB.estate
An additional fee of $300 will be charged for Listing Agreements not received within 24 hrs.
Cover Sheets
Sales
As soon as you have a signed accepted Purchase Contract send a Sales Sheet to: CurbCA@CURB.estate
Referrals
As soon as you have a signed accepted Referral Agreement send a Referral Sheet to: CurbCA@CURB.estate
Leases
As soon as you have a signed accepted Lease send a Lease Cover Sheet to: CurbCA@CURB.estate
All Cover Sheets MUST be submitted to our TC within 24 hours of obtaining an accepted contract, as the Department of Real Estate requires brokerages to maintain a current record of all active transactions.
An additional fee of $300 will be charged for Cover Sheets not received within 24 hrs.
Obtaining Transaction Forms
Log into your glide™ account: Glide login. When logging into Glide, use the C.A.R. log in option and enter your CAR login information. If you do not remember your CAR login information please contact CAR: 213-739-8200 • Contact CAR If you have problems logging in to glide please contact glide at: support@glide.com
glide assistance:
Local Disclosures
Additional required local disclosures are not in the CAR forms library.
Please call your local real estate board or MLS to get the list of the required local disclosures for the area where the property you are selling is located. This is mandatory. You can be held legally liable by your buyers & sellers for not including all the necessary forms for your local area. If you are using a Transaction Coordinator you are still required to do this.
Transaction Notes
Saving your notes will make the difference in you winning or losing a lawsuit with a buyer or seller. “If it’s not in writing, you ain’t got squat.” Make sure to upload all your notes, emails, etc, into your transaction.
When the above information is complete please send an email to: CurbCA@CURB.estate to let us know your new transaction has been posted and ready to begin. After we receive your email your personal Transaction Coordinator will then contact you back and begin processing your transaction right away and work with you acquiring the rest of the required forms and signatures.
* When contacting your TC please let us know which Transaction Coordination service you would like; Basic or VIP. More info on our TC services: CURB Transaction Coordination Services
* When filling out forms make sure to use your own address, telephone number and email where required.
* If scanning paper documents, please scan all documents at: 72 dpi. This is the best resolution to maintain clarity and avoid having too large of a file.
* Please send ALL forms affiliated to transactions to: CurbCA@CURB.estate (Including forms that require brokers signature). Only AFTER you have been assigned to your TC, please send ALL forms to that TC.
If you are processing your transaction yourself:
Do not open an escrow, our staff will do this for you.
Listing Agreements need to be submitted within 24 hours of sellers signature - CurbCA@CURB.estate
An additional fee of $300 will be charged for Listing Agreements not received within 24 hrs.
Cover Sheets
Sales
As soon as you have a signed accepted Purchase Contract send a Sales Sheet to: CurbCA@CURB.estate
Referrals
As you have a signed accepted Referral Agreement send a Referral Sheet to: CurbCA@CURB.estate
Leases
As soon as you have a signed accepted Lease send a Lease Cover Sheet to: CurbCA@CURB.estate
All Cover Sheets MUST be submitted to our TC within 24 hours of obtaining an accepted contract, as the Department of Real Estate requires brokerages to maintain a current record of all active transactions.
An additional fee of $300 will be charged for Cover Sheets not received within 24 hrs.
Obtaining Transaction Forms
Log into your glide™ account: Glide login. When logging into Glide, use the C.A.R. log in option and enter your CAR login information. If you do not remember your CAR login information please contact CAR: 213-739-8200 • Contact CAR If you have problems logging in to glide please contact glide at: support@glide.com
glide assistance:
Local Disclosures
Additional required local disclosures are not in the CAR forms library.
Please call your local real estate board or MLS to get the list of the required local disclosures for the area where the property you are selling is located. This is mandatory. You can be held legally liable by your buyers & sellers for not including all the necessary forms for your local area. If you are using a Transaction Coordinator you are still required to do this.
Transaction Notes
Saving your notes will make the difference in you winning or losing a lawsuit with a buyer or seller. “If it’s not in writing, you ain’t got squat.” Make sure to upload all your notes, emails, etc, into your transaction.
* When filling out forms make sure to use your own address, telephone number and email where required.
* If scanning paper documents, please scan all documents at: 72 dpi. This is the best resolution to maintain clarity and avoid having too large of a file.
* Make sure ALL the required forms have been signed by ALL parties before requesting approval for a completed transaction.
* Please send ALL forms affiliated to transactions to: CurbCA@CURB.estate (Including forms that require brokers signature).
* At least 5 days before close of escrow please notify the TC Manager: CurbCA@CURB.estate
to let us know that ALL the required transaction forms in the CURB/glide transaction template are signed and completed and ready for review, in order for you to get paid on time.
Congratulations and enjoy your success !