PS Communication
Morgan reaches out to you regarding the request for the addendum to remove the personal property. She said that her agent was the one to include the washer and dryer to ensure the seller left the items.
Who should you contact to assist with more information?
Selling Agent
Kathy's selling agent give push bach regarding why we need an FHA Addendum.
What is the purpose of the FHA addendum
To protect our client's Earnest Money Deposit (EMD)
David is helping the seller, Corey with the sale of his home. What kind of real estate agent is David?
Listing Agent
Brian's agent calls to say the Title company they chose will no longer be an option and ask if Amrock can complete Title.
What action will you take before saying yes or no?
Check to see if the loan is Amrock eligible
Julie calls to let you know the Bank is unwilling to do repairs and she wont be able to do them herself. She said after discussing with her agent, she's decided not to move forward with the loan.
What action will you take with Julie's loan?
Submit the loan for Suspense
Claire calls to get more information on a task on her To-Do list asking her to provide additional documentation for the $18,000 deposit in her checking account.
What are we asking Claire to provide this information?
This deposit is inconsistent with her other deposit. We need to trace/source the funds to make sure it is not a result of new debt.
What is it called if the appraisal must be in by a certain date?
Appraisal Contingency Date
On a purchase transaction, who will the appraiser contact to schedule the appraisal?
The Seller or Listing Agent
After the PAR team reviews the purchase agreement, they insert a tracking requesting the we contact the real estate agent for his/her license number.
Why must we obtain state license numbers?
The license numbers must be documented on the closing disclosure
While attempting to reach the selling agent you are forwarded to an assistant for the selling agent.
What is this person called?
Transaction Coordinator
Joseph is selling his current home and using the funds he gets from that sale to offset some of the cost in buying his new home.
What will we foreshadow to Joe regarding what document we may ask him to provide?
The preliminary CD showing the closing date and proceeds
How are EMD's handled differently on New Construction Loans?
There are typically multiple EMD's over time on a new construction
What is the legally binding document that outlines the terms and conditions of the sale?
Purchase Agreement
Your are unable to complete the auto IC, what team would you contact buy inserting what tracking?
Purchase Title Coordinator by inserting PTC Action
After reviewing the loan you see the state is Arizona. What type of closing will take place?
Escrow
You are copied on an email from the VA Appraisal Team regarding Tidewater.
How much time does the real estate agent have to provide comparables?
48 business hours
Danny reaches out because he is frustrated with all the paperwork involved with this purchase transaction. He is buying the home from his cousin and neither of them have a REA. You tell him about our FSBO assist program. Danny ask how much it cost. What do you tell him?
There is no cost to Danny
Andrea calls with questions about her CD. She ask why she has to pay taxes at close when the seller already paid the taxes for the year.
Tax Prorations
Porsha's selling agent sends you an email with the title agents contact information along with the title agency. What action do you need to take?
Complete the auto IC in Clearpath/Pitch
Oscar calls to let you know his wife is in the hospital and he may need to have a POA for her at signing because the seller is adamant about the ASD. Who needs to approve the POA?
Rocket Mortgage
During your initial conversation with Jack, you see in the notes the client is a first time homebuyer.
What will you need to discuss with the client on your call?
Our client will need to complete the First Time Homebuyers Education course and; encourage them to do so as soon possible
Berry is purchasing a bank-owned property. The great news is, the home is in great shape and does not need any repairs. However, you still need to foreshadow to Berry about what?
Possible past due property taxes and HOA dues
Rocket Mortgage does not require this document but some Title company's do require this document in order to provide us what document?
The Survey and Comprehensive Endorsement
What is a Policy that protects the client from existing liens when they buy a home
OTP
What in AMP do you use hot dates to check?
Milestones