Listing Document Glossary PDF
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This document is a glossary of document requirements for listing transactions in real estate. It outlines necessary documents and instructions for property listings. Instructions detail required signatures and uploads to relevant platforms.
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Document Glossary for Listing transactions And document instructions ed= Required document R Orange= sometimes required, depends on the transaction lue text = signatureinstructions B RED = do NOT/be aware GREEN = do Pre-Listing Documents- New listing documents fora new pro...
Document Glossary for Listing transactions And document instructions ed= Required document R Orange= sometimes required, depends on the transaction lue text = signatureinstructions B RED = do NOT/be aware GREEN = do Pre-Listing Documents- New listing documents fora new property. hese documents are NOT shared with anyone, only uploaded to command. T Signed by seller and listing agent(s). NS- Seller’s net sheet.Signed by seller S XLS-required to be signed by seller and listingagent(s) ○ Typically 6 month expiration date CNrequired to be signed by listing agent and seller DFIrequired to be signed by listing agent and seller AC 650required to be signed by seller POA disclaimer for SPDonly required if the sellerhas a Power of Attorney (POA = someone authorized to sell a property and complete documents on their behalf)signed by seller or person withPOA Seller’s Homework Documents SPD-required to be completed for all residentialproperties. NOT required for commercial listings. Every ingle line must have a response, and if they select yes and there’s an explanation at the end of a section, s they must explain the yes.. You will review it before submitting it to KW. Then check KW after you submit it to confirm there are no corrections needed. This needs to be checked and/or corrected BEFORE uploading to the MLS. ○ When it’s an estate sale or POA, it can be blank. ○ Sent to seller as “Can sign & fill” ○ After it’s completed, do a compliance check then upload to command for another check ○ After KW approved and corrections made (if needed) upload to MLS ○ IF corrections need to be made after it’s been completed, sellers initials MUST be next to it LPD- required only for homes built before 1978. ○ Signed by seller and listing agent ○ After it’s completed, do a compliance check then upload to command for another check ○ After KW approved and upload to MLS Property Description Sheet- not a required document, ○ signed by seller and listing agent ○ NOT uploaded to MLS ○ For our records only upload to command Additional Listing Documents-sometimes required C hange to XLS- this is only needed if there are anychanges being made to the contract after it’s been signed. This is any date changes, commission changes, or terms that are in the XLS. ○ Signed by seller and listing agent(s) ○ Only upload to command Offer / AOS Documents- ALL docs uploaded to command AOS- Agreement of sale. TC to review all lines andinformation for compliance. Use Highlighted AOS important things as a reference when checking the document. ○ When checking for compliance after going UC, pleaseuse the above highlighted AOS and make sure all dates are correct, the accepted date is on or before the executed date. Check that the MC date makes sense. And any other important info is correct, you can use the MLS to confirm some items. ○ ANY changes made during negotiations need to be initialed by ALL buyers and sellers in order to be compliant. ○ Send executed AOS to buyers agentvia DL as view only& attach as pdf ○ Reshare executed AOS with selleras view only & attachas pdf SPD- ○ B uyer’s initials on each page and signature at the end ○ Reshare executed SPD with selleras view only & attachas pdf pdated SNS- an updated SNS must be created withthe AOS sales price, sellers assist, closing date and U any other terms that could affect the seller’s NET on the home (how much money they get at closing) ○ Signed by the seller ○ Do NOT send to anyone, only upload to command LPD- Lead based paint disclosure isonly requiredfor homes built before 1978 ○ Check that buyers name and date of agreement are filled in (about half way down the page) ○ Check that the buyer’s agent signed at the bottom ○ Signed by buyer, seller, and both agents Make sure buyer’s name and date are listed on line 25 & 26 ○ Send to buyers agent with executed AOSvia DL as viewonly & attach as pdf DMN- ○ Not signed by the seller ○ Request from the buyer’s agent Title Commitment- received from the title company about mid-way through a transaction ○ Send to buyers agent once receivedvia DL as viewonly & attach as pdf Municipal Transfer Docs-only required if there aremunicipal inspections or a CO(certificate of occupancy) ○ Received from listing agent ○ Send to sellers to sign (if needed) or review ○ IF NEEDED: After it’s signed, send to buyers agent agentvia DL as view only & attach as pdf Pre-Approval/Proof of funds ○ No signatures needed ○ Send with an offer from the buyers agent Copy of EMD ○ Sent to us from our office ○ Send buyers agent a copy of the reciept Utility Info Sheet ○ Seller needs to complete, send blank one to listing agent if one wasn’t provided. ○ Upload to dotloop and command ○ Email sent to buyer with information CBC- cooperating broker agreement ○ Needs to be signed by buyer agent and listing agent ○ If Buyer’s agent signed first, share with listing agentas view only & attach as PDF requesting their signature ○ If Listing Agent signed first, request buyer’s agent signature then share back with listing agentvia DL as view only & attach as pdf MC- Mortgage Commitment ○ Received from lender OR buyers agent by due date ○ Doesn’t need any signatures Copy of appraisal ○ Sometimes received from buyer or lender ○ Do NOTshare with seller, unless instructed otherwiseby listing agent Settlement notice ○ Received from title company ○ Send to buyers agent once receivedvia DL as viewonly & attach as pdf ○ Send to sellers once received ○ Upload to buyers drive folder & command ○ Update calendar invite with time and location and attach settlement notice PRELIMINARY ALTA FOR REVIEW ○ Request from the title company before settlement ○ Send to listing agent(s) via email ○ Do NOT send to anyone else ○ Does not need to be uploaded anywhere Signed ALTA ○ Received at settlement, agent need to email you a copy ○ Upload to command and add to closed form ○ No need to send to anyone else PSW- Pre Settlement walkthrough ○ Signed at settlement by buyer and seller, agent needsto email you a copy ○ Upload to command ○ Reshare executed document with listing agent(s) and sellervia DL as view only & attach as pdf Inspection Documents-sometimes required Home Inspection- only if elected on AOS ○ Received from buyers agent ○ NEVERshare with lender or title company ○ ONLY share with SELLER if instructed to by buyers agentvia DL as view only & attach as pdf Termite Inspection ○ Received from buyers agent ○ Add sellers’s signatures and send via dotloop as “Can Sign” ○ After it’s signed, share with buyers agentvia DLas view only & attach as pdf ○ Can be shared withlenderfor FHA/VA loans only -No need to send to title Any other inspections(Water, Septic, and any otherinspections) ○ NEVERshare with lender or title company ○ ONLY share with seller agent if instructed to by listing agent ○ CANbe shared with the buyer BRI- Buyer’s reply to inspections ○ Needs to be completed on or before due date on AOS (typically 10-15 days) ○ This document is where they accept the property or request repairs, additional compensation (sellers assist) or price change ○ Only signed by buyer ○ Sent from buyers agent ○ DO NOTsent to lender or title CTA- Inspection Repairs ○ All negotiations will be on this CTA from BRI, might not always match BRI ○ Needs to be signed by buyer and seller ○ DO NOTsend any repairs to lender Only send to lender if it’s JUST sellers assist or price change Agent’s know this, but please make sure you’re checking for this!Very important!!! Addendums to Agreement of Sale -sometimes required, check AOS or with buyers agent ACA-appraisal contingency addendum ○ Only if selected at the end of the AOS ○ Sent with executed AOS to buyers agentvia DL as viewonly & attach as pdf PEA- Price escalation addendum ○ Only if selected on end of AOS ○ Sent with executed AOS to buyers agentvia DL as viewonly & attach as pdf RRT- Repairs / corrections required by third party ○ Only if selected at the end of the AOS ○ Sent with executed AOS to buyers agentvia DL as viewonly & attach as pdf Sale & Settlement Contingency ○ Required if a buyer needs to sell a home in order to purchase another one ○ Needs to be selected at the end of the AOS ○ Sent with executed AOS to buyers agentvia DL as viewonly & attach as pdf Addendum - Appraisal Gap ○ Will NOT be selected at the end of the AOS ○ DO NOTsend to lender or title ○ Sent with executed AOS to buyers agentvia DL as viewonly & attach as pdf Addendum- any other addendums created during theinitial negotiations ○ Check with listing agent on instructions for any additional addendums before sending to anyone! Any additional change in terms during the UC process CTA’s ○ Any change in terms that occur during the transaction need to be signed by buyer and seller and uploaded to command ○ Ask listing agent for specific instructions if you are unsure. ○ NEVER send to anyone without checking first ○ There are occasionally some documents that can NEVER be shared with a lender, sending the wrong thing could be detrimental to a transaction. Please keep this in mind at all times! Any other documents during the transaction, may not be related to the AOS FHA Amendatory Clause ○ Sent from lender ○ Needs to be signed by buyer and seller, then sent back to the lender. A ny other document, check with Angela or Zylkia on who it can be sent to BEFORE sending to anyone until you are familiar with things. eed Packet - the documents that the seller would sign at closing, sent from the title company to the seller D if they are unable to be present at settlement. We do not handle those documents, only request them if it is needed for the seller.
