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What Is a Transaction Coordinator?
A transaction coordinator (TC) is an individual whose job is to focus on coordinating with all of the parties associated with a pending real estate transaction, and, in some traditional cases, setting up new listings. TCs strive to keep the process streamlined, organized, and (most importantly) on-schedule to meet the close of escrow date.
TCs strive to keep the process streamlined, organized, and (most importantly) on-schedule to meet the close of escrow date.
What is a ‘Creative TC’?
A Creative Transaction Coordinator (TC) is a specialized professional undertaking with a comprehensive range of responsibilities that extend beyond the typical role of a Traditional (cash) TC. Engaged in the meticulous organization of documents to ensure clarity, a Creative TC navigates the entire transaction process. Their role involves proactive communication with all involved parties, expediting closing by addressing missing elements and overcoming transaction roadblocks. They expertly organize transaction documents, maintain key relationships while adhering to established service boundaries defined in committed service agreements. The services a Creative TC provides can range from transaction assistance to administrative support depending on each individual TC. Known to NOT be involved in negotiations or financial decisions of investors, Creative TCs uphold a distinct line between transaction coordination and legal or tax advice, focusing on streamlining processes and facilitating smooth property transfers and setup.
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What is the advantage of hiring a Top Tier Transaction Coordinator (TC) for my real estate transactions?Having a Top Tier TC brings not only a wealth of knowledge and expertise to your transaction, but also the resources and support from the only dedicated Creative TC community in the industry! Maximize your investment potential while minimizing the possibility of a cancelation. The Top Tier community focuses on ethics, and confidence in navigating the complex deal types that creative transactions need to be successful.
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How does working with a Top Tier TC benefit my investment strategy?Top Tier TCs provide tailored solutions and confident approaches to creative transactions. Our expertise allows us to keep a mindful eye for potential issues, pitfalls or speed bumps in transactions before they jeopardize closings.
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Can Top Tier TCs help streamline the transaction process and save time?Absolutely! Top Tier TCs are adept at streamlining the transaction process, handling the intricate details and coordinating all the aspects of the deal efficiently. By leveraging our expertise and commitment, you can save valuable time and focus on other aspects of your investment portfolio and business.
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What types of transactions or services do Top Tier TCs specialize in?Top Tier TCs specialize in a diverse range of transactions and services including creative acquisition and disposition strategies with assignment/wholesale, seller financing, Subject to, wrap around financing, and additional methods with various other lending/financing. Many Top Tier TCs also offer additional services for post close such as Post Close Setup (insurance, hoa, mortgage) and Servicing.
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How do Top Tier TCs ensure compliance with relevant regulations and laws in real estate transactions?Part of the education Top Tier TCs receive is to ensure clear communication and expectations with the local title companies or closing attorney who will be completing all of the legal and official documentation for the transaction. When TCs are consistently collaborating with local licensed professionals this helps to ensure that legal and ethical boundaries are respected and upheld.
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How do Top Tier TCs handle communication and updates throughout the transaction process?Our Community is highly encouraged to check in on each transaction multiple times per week (sometimes daily). Each transaction has ebbs and flows for maintaining the momentum. Creative TCs keep transactions close at hand to ensure communications and updates are handled as smoothly, efficiently and quickly as possible.
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What is the typical timeline for completing a transaction with the assistance of a Top Tier TC?In general creative transactions will take anywhere from 30-45 days for a standard closing. This will not take into account any post closing services or ultra creative financing transactions will generally take additional time.
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How do Top Tier TCs handle unexpected challenges or obstacles in transactions?Expecting the Unexpected is one of the main priorities of a Top Tier TC. We always do our best to see the potential issues or problems before they derail progress on a transaction. However, they still happen. It’s the nature of the game. When these moments come up we make sure to navigate critical pieces to the appropriate parties so that the momentum towards closing stays as consistent as possible. We also work hard to be sure all parties involved have as much information as possible. This helps to keep everyone on the same page and keeps any tensions to a minimum.
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Are there any additional fees associated with hiring a Top Tier TC?In general the fees and costs associated with hiring a Top Tier TC are standard for the Creative Transaction Coordination industry. You will find that the fees and costs for a Creative TC are more than traditional TCs and this is due to the fact that the expectations, education and role of a Creative TC will always be far and above a Traditional (cash) TC’s role.
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Can Top Tier TCs assist with negotiations or contract drafting?Transaction Coordinators are not certified Underwriters or Attorneys. We are not responsible to verify or confirm that an investors deal is truly a good deal for them or their business. We are also not licensed to draft or provide legal documents for any transaction (Contracts, Notes, Mortgages, etc) Our community specializes in collecting and maintaining strong, licensed and creative friendly resources for underwriting and legal documentation which we can reference if needed for progression of transactions.
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What distinguishes Top Tier TCs from other Creative TCs in the industry?Community over Competition is the theme song of the Top Tier Community! Top Tier TCs, as opposed to other Creative TCs in the industry, have access to resources, coaching and education from the Top Tier Transaction Team who gained their extensive experience within the Creative Realm working alongside Pace Morby the king of creative finance and founder of the Subto Community. With the current and previous experience of the Top Tier Team the TCs within the Top Tier Community have found the education and resources they need to confidently navigate any creative transaction. The best part; if any of the Top Tier TC hits a hurdle they can’t currently solve, our community and coaches rally with them to find a solution and provide education for the entire community to navigate that exact situation in the future.
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How do Top Tier TCs adapt to the specific needs or preferences of investors?Top Tier TCs understand that each creative transaction and each investor are unique. That each ‘story’ and goal of investors needs to be determined at the front of the transaction to ensure that the path is clear and confident moving forward. Each TC will verify the needs of a transaction and an investor in their own unique way, and having a clear understanding of what is needed for each transaction is what helps TCs to gain the success of a completed file and a happy investor.
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Can Top Tier TCs provide guidance on market trends or investment opportunities?We are not Creative Market Analysts. We do not give trend or investment advice. However, many creative TCs can offer potential investment opportunities from files that may be open with them if there is a Buyer, or Lender needed for that transaction. A Good relationship with a Top Tier TC can oftentimes bring other opportunities from other areas.
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What is the process for getting started with a Top Tier TC for my real estate transactions?Have a Great TC ready to go is always valuable and we encourage you to connect with a TC to ensure a good fit before the chaos of a deal sets in. Once you have a deal ready to go, there are two moments in time that investors generally connect with a Top Tier TC. If they want to have someone review a completed contract draft for clarity on ‘the story’ before sending for signatures -OR- Once the contract has been signed and executed. Either of these options will give the TC time to ask questions, gather details and ensure that the ‘story’ of the transaction makes sense and is ready to go into escrow.
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How do Top Tier TCs contribute to maximizing ROI for real estate investments?Top Tier TCs are usually the lynchpin in any growing and thriving Investment business. Having a TC dedicated to the successful closing or post close setup of a property not only ensures a more smooth or efficient closing process, but also gives investors their TIME back. Time which is equally as important of an investment for any investor as money. Moments where Investors can focus more on what they need to do FOR the business instead of being stuck IN the businesses is often the make or break ROI for a company.
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What ongoing support or services are available after the transaction is completed?Each Top Tier TC will have their detailed scope of work for each service in their services agreement PRIOR to beginning the transaction. Please be sure to clarify any questions, concerns or needs with your TC prior to signing to ensure both parties have what they need to see this transaction come to a successful resolution.
Do You Have a File That Needs Top Tier Support?
Discover how our Top Tier Intern Program can streamline your investment projects while cutting costs. Our highly skilled interns are ready to provide exceptional service, ensuring your experience is unparalleled in the industry. Click below to maximize efficiency and quality with our team!
Top Tier Team Consults
Not sure where to start or feeling a bit lost in this process?!
Looking for guidance on coordinating your upcoming transaction? Schedule a consultation with our Top Tier TC Team to get expert advice on transaction processes, clarity, and closing proficiency. Use the link below to ensure your investment projects run smoothly and efficiently through the transaction process.
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