Purchase Contract Requirements Checklist
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Questions and Answers

What should be ensured before submitting the customer's information in the contract form?

  • The information entered is accurate. (correct)
  • The contract must have two signers listed.
  • The form must be submitted by a supervisor.
  • The customer must provide a social security number.

    • When double checking contact information in Pipedrive, which signer's detail must be prioritized?

  • The signer whose information is outdated.
  • The signer whose name is listed first on the contract form. (correct)
  • The signer who has the most recent purchase history.
  • The signer who is listed last on the contract form.

    • Why is it necessary to create an activity for Jenny in Pipedrive?

  • To update the spreadsheet with customer information.
  • To remind her of the down payment date.
  • To confirm the contract was signed two days post-purchase. (correct)
  • To document the ID status for future reference.

    • What happens after the contract is sent out following the down payment?

    <p>A notification email is sent confirming the contract was sent.</p> Signup and view all the answers

    How should signers' email addresses be handled within Pandadoc?

    <p>Every signer must have their own unique email address.</p> Signup and view all the answers

    What must be included in the email sent for sale information?

    <p>Purchase Price and Down Payment</p> Signup and view all the answers

    Which payment methods are acceptable for down payments exceeding $2,500?

    <p>Cashiers checks, crypto or wire transfers</p> Signup and view all the answers

    What is the purpose of sending a text or email to confirm customer information?

    <p>To ensure accurate collection of personal data for records</p> Signup and view all the answers

    What is the maximum amount allowed for down payments via debit/credit cards?

    <p>$2,500</p> Signup and view all the answers

    What information should the sales rep collect over the phone regarding payment?

    <p>The preferred payment method and timeframe for payment</p> Signup and view all the answers

    Study Notes

    Purchase Contract Process Overview

    • A structured checklist guides the purchase contract process, ensuring no steps are overlooked.
    • Key tasks include emailing sales info, payment collection, confirming customer details, submitting contract forms, and managing Pipedrive activities.

    Step 1: Email Sales Information

    • Use a specific template to send sales information to designated emails (emma, jenny, sofia, payments).
    • Required details include email address, social security numbers, and IDs for all signers.
    • Payment terms include a down payment amount, document fee, monthly payment, rate, and due dates.

    Step 2: Payment Collection

    • Payments are collected over the phone via a specified link.
    • Accepted methods: Debit/Credit cards (up to $2,500), cashier's check, crypto, or wire for larger amounts.
    • A $500 deposit can hold the property; an option contract is needed if payment exceeds 24 hours.

    Step 3: Confirm Customer Information

    • Obtain written confirmation from the customer via text or email based on provided details to finalize the sale.

    Step 4: Contract Form Submission

    • Customer data must be submitted through a specific online form for accurate automatic entry into Pipedrive.
    • The signer’s name on the contract form should be singular; additional signers are added later by internal processes.

    Step 5: Pipedrive Management

    • Verify contact information in Pipedrive to ensure accuracy corresponding to the contract.
    • Create an activity reminder for Jenny two days before the purchase date to check for contract signature status.

    ID Management

    • Paste and pin images of signers' IDs in Pipedrive along with the purchased lot information for easy reference.

    Important Notes

    • Contracts are processed within two business days of receiving the down payment, usually on the same day.
    • Notifications are sent upon contract issuance and completion by all parties involved.

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    Description

    This quiz guides you through the essential steps to complete a purchase contract. You will learn how to effectively collect payments, confirm customer information, and manage documentation in Pipedrive. Utilize the checklist to ensure no steps are missed in the purchasing process.

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