![]() If the buyer misses a payment, the seller could cancel the contract. A TC can confirm that the buyer puts earnest money into the escrow account on time, as well as their down payment, inspection fees, insurance and any other costs. This could be anything from a problem with financing to an inspection concern. If a problem comes up, the transaction coordinator will work with the agents, clients and other parties involved to find a solution. Find solutions to problems and provide support.You can’t receive funds before underwriting is complete, but a TC can make sure everything clears quickly. Your lender will verify your creditworthiness and financials for final approval of the loan in a process called underwriting. If something is missing, they can alert the real estate agent who hired them. “Without a real estate license, a transaction coordinator is not permitted to review contracts with clients, but they can review the contract after everyone has signed everything to ensure that there are no missing initials or signatures or required addenda,” Rundlett says. ![]()
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