What does a transaction coordinator do before closing?

Woohoo! It’s almost closing time! Can you hear the keys and the champagne pop?! Hold on just a second..before we celebrate there are a few more things to do.

In most transactions I work on there is a little bit of quiet period after inspection negotiations while the lender and title company do their thing. About a week before closing, it’s time to make sure everything is in order. Here are a few things I do as a TC about 7-10 days before closing:

• Start scheduling closing:

  • Reach out to the title company and buyer/seller to coordinate their schedules. Set up a mobile notary if needed.

• Schedule final walkthrough:

  • If the agent does a final walkthrough with their buyers, we’ll want to start checking everyone’s schedules for this too.

• Collect repair receipts:

  • If any repairs were negotiated, this is a good time to double-check that they have been done, gather any documentation (Paid Invoices, receipts, etc), and share them with the applicable parties.

• Confirm compliance paperwork has been approved:

  • We probably already did this earlier, but if there are any last minutes items needed, we’ll keep this on our checklist to double-check!

• Send CDA to title:

  • Make sure we have the CDA from the agent’s brokerage and send it to the title company.

• Check-in with the lender and title company to ensure they have everything they need and we are ready for closing:

  • Ensure we have clear to close, buyers have received their disclosures, etc. I find that asking this gives everyone one more chance to check the file on their end for any last-minute surprises or missing items!

• Send client closing details:

  • Once we have a closing appointment confirmed, I will send an email to the client with the details of their closing and any other applicable closing information such as when to turn off their utilities, what to do with their keys, what to bring to closing, etc. Depending on the area you work in, if you are a TC, you will start to learn the most commonly asked pre-close questions and you can include them in this email!