34 Questions
What is the purpose of the Referral Agreement document?
To facilitate the payment of referral fees to other agents
What is the required expiration date for the BAC document?
1 year from the date of signing
Who signs the Buyer Documents?
Both the buyer and the buyer's agent
When are new buyer documents required for a buyer?
When the previous documents have expired
What is the purpose of the Change to BAC document?
To document changes to the buyer agency agreement once under contract
Who has access to the uploaded buyer documents?
Only the buyer and their agent
What is the purpose of the Lead-based Paint Disclosure?
For homes built before 1978 only
Who is responsible for completing the Utility Info Sheet?
Seller
What is the purpose of the Deposit Money Notice (DMN)?
To notify the buyer of where the deposit is being held
Who receives the executed AOS via DL as view only and attaches it as a PDF?
Listing Agent
What is the purpose of the SPD Waiver?
To comply with Keller Williams Platinum Realty's requirements
What is the purpose of sending the Pre-Approval/Proof of Funds document?
To prove the buyer's ability to purchase the property
What is the purpose of the Sale & Settlement Contingency addendum?
To allow a buyer to purchase a home before selling their current one
Where should the Appraisal Gap addendum be sent?
Nowhere, it should not be sent without permission from the buyer's agent first
When is the PEA - Price Escalation Addendum sent?
Only if selected at the end of the Agreement of Sale
What should be checked before sending the RRT - Repairs/Corrections Required by Third Party addendum to the lender?
The buyer's agent's instructions
How are documents sent to the listing agent?
Via dotloop as view only with a pdf attachment
What should be done with any additional addendums created during the initial negotiations?
Check with the buyer's agent on instructions for any additional addendums before sending to anyone
During the UC process, what should be done with changes in terms?
Both buyer and seller need to sign and upload to Command
Why is it essential to be cautious when sharing documents during a transaction?
To avoid sharing confidential information with unauthorized parties
What happens if the sales price, settlement date, or seller's assist is changed during the transaction?
A new estimated closing cost needs to be created and signed by the buyer
Who should be consulted if you are unsure about specific instructions for a document?
Angela or Zylkia
What should you do with documents received from the lender?
Check with Angela or Zylkia before sending to anyone
What should you never do with certain documents during a transaction?
Send them to anyone without checking first
What is the purpose of the CBC - Cooperating Broker Agreement?
To document the commission being provided to the buyer's agent
What happens to the Mortgage Commitment once it's received from the lender?
It's sent to the listing agent via DL as view only & attach as pdf
What should be done with the Copy of Appraisal?
Keep it confidential, unless instructed otherwise
Who receives the Preliminary ALTA for Review?
The buyer's agent only
What is the purpose of the PSW - Pre Settlement Walkthrough?
To document the final review of the property
What should be done with the Inspection Documents?
Never share them with the lender or title company
What is the purpose of the BRI - Buyer's Reply to Inspections?
To request repairs or additional compensation
What happens to the CTA - Inspection Repairs?
It's negotiated between the buyer and seller
Who signs the Signed ALTA?
The buyer and seller
What should be done with the Termite Inspection?
Add buyer's signatures and send via dotloop
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