Frequently Asked Questions
What is a Transaction Coordinator?
A transaction coordinator is just that, a person that professionally coordinates your transaction. Your Transaction Coordinator will manage your contract from the time it goes under contract until it closes. The service is also commonly known as “contract to close.” The Transaction Coordinator will facilitate all communications, coordinate inspection scheduling, track loan progress and appraisal, and ensure all paperwork is complete and accurate.
What are the benefits of using a Transaction Coordinator?
Many investors and wholesalers expect the closing attorney or other third party to keep track of the transaction and give them updates. Most times, they are handling hundreds of other files and do not have the time to focus on the details of your deal. You may also be tied up with many other transactions and can’t keep up with the all the details or changes that may occur. That is what we are here for! We have implemented strong systems and procedures to ensure no detail is missed and each transaction is managed exceptionally every time. Using a Transaction Coordinator will free up your time for prospecting and other income-producing activities that increase your work-life balance.
When am I ready for a Transaction Coordinator?
Most people believe that you need a large team or close a high volume of deals to be able to utilize a transaction coordinator. This is not always true. A transaction coordinator is beneficial to the experienced investor/wholesaler that closes a large volume of deals AND the investor/wholesaler that is just starting out on their very first deal. When you work with us as your transaction coordinator, we not only handle the paperwork, but we problem solve with you to ensure that your deal gets closed.
What are your hours of Operation?
We will be available to you Monday-Friday from 8:30am-5pm. We check emails intermittently nights and weekends for emergencies. We will be unavailable during all federal holidays.
What Areas do you serve?
We serve the entire state of Georgia, specializing in Metro Atlanta. We will soon be expanding to surrounding states as well.
Why shouldn’t I just hire an In-House Transaction Coordinator?
We have found that companies who try to hire in-house almost always face a wide range of issues, including high turn over rates, limited time and resources to develop scalable processes, and the constant need to train their admins. Plus, what happens when your in-house Transaction Coordinator is sick or goes on vacation? Agents hire us to avoid these issues, as we are a turn key system, with all systems and procedures already in place. When you work with SPG: Contract to Close, you will never experience turn over, will never have to deal with your Transaction Coordinator going on vacation, and will never have to train someone or update systems.
How do you get paid?
We only get paid when you get paid! We do not charge for file cancellations. Our fee is stated on the settlement statement along with the other closing fees. the fee would come from your proceeds at closing or you can transfer the fee to the end buyer for wholesale transactions - just be sure to add the correct verbiage in the agreement.
Are there any additional fees?
You will never be charged any additional or hidden fees! Our flat fee (paid when you get paid!) includes all the software, payroll, training, and systems.
What types of Contracts/Real Estate Transactions do you manage?
We manage all types of investor related contracts and transactions including assignments, double closings, novations, 1031 Exchanges, MLS related deals, etc. We charge the same fee regardless of the file type.
Can you help me grow my business?
Yes! Using a Transaction Coordinator frees up your time to allow for income-producing activities. You are capable of doubling and even tripling your production once you start taking full advantage of our assistance.
Do I need to sign a Contract?
Before working on our first contract together, you will sign an independent contractor agreement that outlines the services we provide and details of how our relationship will be. Neither of these documents are exclusive or binding, so you can discontinue service at any time without penalty.
What happens if a deal doesn’t close?
We do not charge a fee for cancellations. We simply terminate the file in our system. Once a file dies, we cannot continue working on the transaction for liability reasons. We cannot draft termination paperwork or follow up on the release of earnest money.
Do you prepare offers or contracts?
We do not prepare offers or contracts at this time for liability reasons.
What is the Onboarding process?
Our onboarding process is fairly simple. There are a couple documents that we have you sign that allow us to receive your contracts and provide service to you. once those are completed, we can start receiving your documents and get to work!
Is there anything that you can’t do?
We do not negotiate your deals. You would be responsible for all negotiations pertaining to your contracts and we’ll ensure that the changes get communicated effectively.
Can you use my systems?
To ensure consistency in our client experience, we use our own proprietary software to manage the transaction.
How hands on will I need to be during the closing process?
While we manage and coordinate the transaction, we will still regularly need your input. You will still need to check your email daily. It is our goal that most of your emails will only need to be reviewed, with minimal input needed. You will still be responsible for all negotiations. You are copied on all correspondence to ensure you are always in the loop.
How do I get started?
Please complete the below form and we will reach out to get your onboarding started!