Podcast
Questions and Answers
What is the purpose of the Referral Agreement document?
What is the purpose of the Referral Agreement document?
- To outline the buyer's agency contract terms
- To document the buyer's agent's commission structure
- To obtain a buyer's signature for a new property purchase
- To facilitate the payment of referral fees to other agents (correct)
What is the required expiration date for the BAC document?
What is the required expiration date for the BAC document?
- 6 months from the date of signing
- No expiration date is required
- 3 years from the date of signing
- 1 year from the date of signing (correct)
Who signs the Buyer Documents?
Who signs the Buyer Documents?
- The seller and the buyer's agent
- Only the buyer's agent
- Only the buyer
- Both the buyer and the buyer's agent (correct)
When are new buyer documents required for a buyer?
When are new buyer documents required for a buyer?
What is the purpose of the Change to BAC document?
What is the purpose of the Change to BAC document?
Who has access to the uploaded buyer documents?
Who has access to the uploaded buyer documents?
What is the purpose of the Lead-based Paint Disclosure?
What is the purpose of the Lead-based Paint Disclosure?
Who is responsible for completing the Utility Info Sheet?
Who is responsible for completing the Utility Info Sheet?
What is the purpose of the Deposit Money Notice (DMN)?
What is the purpose of the Deposit Money Notice (DMN)?
Who receives the executed AOS via DL as view only and attaches it as a PDF?
Who receives the executed AOS via DL as view only and attaches it as a PDF?
What is the purpose of the SPD Waiver?
What is the purpose of the SPD Waiver?
What is the purpose of sending the Pre-Approval/Proof of Funds document?
What is the purpose of sending the Pre-Approval/Proof of Funds document?
What is the purpose of the Sale & Settlement Contingency addendum?
What is the purpose of the Sale & Settlement Contingency addendum?
Where should the Appraisal Gap addendum be sent?
Where should the Appraisal Gap addendum be sent?
When is the PEA - Price Escalation Addendum sent?
When is the PEA - Price Escalation Addendum sent?
What should be checked before sending the RRT - Repairs/Corrections Required by Third Party addendum to the lender?
What should be checked before sending the RRT - Repairs/Corrections Required by Third Party addendum to the lender?
How are documents sent to the listing agent?
How are documents sent to the listing agent?
What should be done with any additional addendums created during the initial negotiations?
What should be done with any additional addendums created during the initial negotiations?
During the UC process, what should be done with changes in terms?
During the UC process, what should be done with changes in terms?
Why is it essential to be cautious when sharing documents during a transaction?
Why is it essential to be cautious when sharing documents during a transaction?
What happens if the sales price, settlement date, or seller's assist is changed during the transaction?
What happens if the sales price, settlement date, or seller's assist is changed during the transaction?
Who should be consulted if you are unsure about specific instructions for a document?
Who should be consulted if you are unsure about specific instructions for a document?
What should you do with documents received from the lender?
What should you do with documents received from the lender?
What should you never do with certain documents during a transaction?
What should you never do with certain documents during a transaction?
What is the purpose of the CBC - Cooperating Broker Agreement?
What is the purpose of the CBC - Cooperating Broker Agreement?
What happens to the Mortgage Commitment once it's received from the lender?
What happens to the Mortgage Commitment once it's received from the lender?
What should be done with the Copy of Appraisal?
What should be done with the Copy of Appraisal?
Who receives the Preliminary ALTA for Review?
Who receives the Preliminary ALTA for Review?
What is the purpose of the PSW - Pre Settlement Walkthrough?
What is the purpose of the PSW - Pre Settlement Walkthrough?
What should be done with the Inspection Documents?
What should be done with the Inspection Documents?
What is the purpose of the BRI - Buyer's Reply to Inspections?
What is the purpose of the BRI - Buyer's Reply to Inspections?
What happens to the CTA - Inspection Repairs?
What happens to the CTA - Inspection Repairs?
Who signs the Signed ALTA?
Who signs the Signed ALTA?
What should be done with the Termite Inspection?
What should be done with the Termite Inspection?
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