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Our escrow department is staffed with full time dedicated transaction coordinators, listing administrators and support personnel who closely monitor the sales activity. They carefully follow each transaction from the initial stage to the close of escrow, establishing a smooth process between the seller, lender, buyer and title.
This department is also working on our paperless system; making all communications and document deliveries faster and more precise than ever before. Our escrow management department holds weekly meetings with title companies to ensure that they are in close communication with the buyers and lenders.
Each segment of the escrow process is staged and assigned to a specific team who is responsible for communicating closely with all parties; ensuring a timely and well-executed closing. We clearly define an REO property assignment by three life phases – pre-listing, listing, and contract/closing.
Stage 1: Pre-listing
“Pre-Listing Administrator” to assist with the following from initial assignment through date of listing:
- Assignment acceptance
- Coordinate with vendors for re-key, trash-out’s , occupancy checks and repairs
- Initial BPO entry
- Processes Cash for Keys
- Communicates with eviction attorneys if necessary
- Maintains monthly marketing and activity reports until list date
Stage 2: Listing
“Listing Administrator” to assist with the following from list date through contract acceptance:
- Enters listing into local MLS system
- Coordinates with marketing department for active properties and availability log
- Coordinates with field representatives for any necessary check-ups and repairs
- Receives and submits all offers to client
- Negotiates offers for “highest and best”
- Maintains monthly marketing and activity reports from list date through contract acceptance
Stage 3: Contract/Closing
“Transaction Coordinator” to assist with the following from contract acceptance through closing:
- Processes all paperwork for client Waugh and Associates:
- Maintains thorough contact with buyer’s agents, lenders and escrow for status reporting
- Notes important dates/deadlines for ease in closing
- Facilitates all state-mandated forms and documentation
- Coordinates with vendors if any loan-required repairs
- Maintains monthly marketing and activity reports from contract acceptance through closing
- Audits file at closing
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