Transaction Coordinator Law

[Timothy Michael Mick]

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

[Heather Kiddoo]

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 HI Timothy! I"m a Top Tier Certified TC in the creative space. I'm just curious if you have had a TC share information about you with other clients. I hope not but just curious as to what prompted this question. 

[Heather Kiddoo]

Quote from @Account Closed:

Quote from @Heather Kiddoo:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 HI Timothy! I"m a Top Tier Certified TC in the creative space. I'm just curious if you have had a TC share information about you with other clients. I hope not but just curious as to what prompted this question. 

 What does "Top Tier Certified TC" mean?

Certified by who ?

 Hi Billy - Molly Tennant. It's a Transaction Coordination Certification for creative finance. 

[Russell Brazil]

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.

[Chris Seveney]

Quote from @Heather Kiddoo:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 HI Timothy! I"m a Top Tier Certified TC in the creative space. I'm just curious if you have had a TC share information about you with other clients. I hope not but just curious as to what prompted this question. 

 can someone explain to me what a transaction coordinator is?

[Account Closed]

Quote from @Chris Seveney:

Quote from @Heather Kiddoo:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 HI Timothy! I"m a Top Tier Certified TC in the creative space. I'm just curious if you have had a TC share information about you with other clients. I hope not but just curious as to what prompted this question. 

 can someone explain to me what a transaction coordinator is?

It's a term made up by Pace Morby to do escrows/act as a real estate agent and to circumvent any existing escrow agent fiduciary and legal requirements in closing Subject To Transactions.

Pace Morby or his representative "certifies" the “Transaction Coordinator”. They take No responsibility for their work after they record the deed according to one “Transaction Coordinator” who was active on Bigger Pockets Soliciting business.

[Chris Seveney]

@Mike Hern

Ok so they are unlicensed / uninsured escrow agents. I could not figure out what the heck they were or why they were needed. Now it makes sense.

[Account Closed]

Quote from @Chris Seveney:

@Mike Hern

Ok so they are unlicensed / uninsured escrow agents. I could not figure out what the heck they were or why they were needed. Now it makes sense.

I think they will also fill out the purchase and sale agrements and track the progress of the transaction. Sort of a blend between real estate agent and escrow officer. In that capacity, I believe they give advice (legal?) to get the deal to close and to handle the seller's questions. That's what I pick up.

"No Fear Top Tier - Transaction Coordinator"

We bring you the expertise and experience of Pace Morby's very own transaction trained coordinators. Our T.C.'s bring a wealth of knowledge and proven track record to the industry. We have invaluable insights, as well as 100's of happy investors ensuring you receive Top-Tier Service directly from a . . .

https://www.prnewswire.com/news-releases/top-tier-transactio...

The Ultimate Guide to Generating Wealth Without Owning Property

(I do that without hard costs or a real estate license)

From Pace's Transaction Coordinator Molly Tennant

https://go.toptiertc.com/join-today-a

It's quite a cottage industry. ;-) You can do this from your basement bedroom in your underwear someone said.

[Heather Kiddoo]

I'm happy to jump on a zoom and talk about what TC's do in the creative real estate transaction if either of you are interested @Account Closed

[Account Closed]

Quote from @Heather Kiddoo:

I'm happy to jump on a zoom and talk about what TC's do in the creative real estate transaction if either of you are interested @Account Closed @Chris Seveney

Just a simple question or two. Are you licensed by the state in the states you practice in? Do you have any liability to the buyer or to the seller after the Deed is recorded? Just curious.

[Chris Seveney]

Quote from @Heather Kiddoo:

I'm happy to jump on a zoom and talk about what TC's do in the creative real estate transaction if either of you are interested @Account Closed @Chris Seveney

 Thanks for the offer, but we have an in house team and use attorneys / escrow companies for all of our real estate transactions. 

[Jay Hinrichs]

Quote from @Account Closed:

Quote from @Chris Seveney:

Quote from @Heather Kiddoo:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 HI Timothy! I"m a Top Tier Certified TC in the creative space. I'm just curious if you have had a TC share information about you with other clients. I hope not but just curious as to what prompted this question. 

 can someone explain to me what a transaction coordinator is?

It's a term made up by Pace Morby to do escrows/act as a real estate agent and to circumvent any existing escrow agent fiduciary and legal requirements in closing Subject To Transactions.

Pace Morby or his representative "certifies" the “Transaction Coordinator”. They take No responsibility for their work after they record the deed according to one “Transaction Coordinator” who was active on Bigger Pockets Soliciting business.

Mike,  Pace cant take credit for that  TC have been around for decades at least in West coast brokerages.. My wife has been working with her TC for about 15 years now.. they are invaluable to the high producing RESI agents .. Although this Molly Tennant approved not so sure about that I think that's just made up.. since she mentioned creative finance and certainly not recognized as an accredited institution.

Chris  TC =  A person who may or may not be licensed ( this is Oregon and WA laws) who assist the agents in many aspects of the transaction. they are normally Dependent independent contractors . So for instance here is how Ms. Lori works with Ms. Wendy ( her TC). Lori writes contract contract is forwarded to TC once ratified TC now goes through contract and marks all the deliverable dates. She then pings Ms. Lori on these dates as you move through closing.. She will also talk to the other agents and sometimes follow up with the clients but cannot sell real estate just clerical..  So lets say Ms. Lori is in the field and gets a frantic call from Title they need some doc in the file .. Ms Lori contacts Ms Wendy and Ms Wendy sends in what they need.. Also TC may help with coordinating inspections and appraisals and in our case she also helps with marketing.. For the basic deal transaction Ms. Wendy charges $400.00 per file and bills Ms Lori once file has funded and recorded.  Now Ms. Wendy might have 3 or 4 high producing agents .. So its a great gig for someone who is very detailed oriented does not really want to deal with sales and wants to work from home as an IC..

In Oregon most Brokerages have TC services and charge their agents for those and you use one of the Brokers TC's  For Ms. Lori she would not be able to be top 100 in PDX  market without Ms Wendy.  And they have never met in person after all these years.. However Ms. Lori will bonus her  send her a very NICE X mas gift etc etc..

As to TC in Pace's world and his tribe its coordinating how to do the mechanics of a subto or other owner finance type transactions and just a made up name.. But its smart of Pace to have this kind of support for his tribe. Hopefully they know what they are doing because as we know the Pace students are mainly beginners and there will be a lot of booboos..

[Jay Hinrichs]

Quote from @Account Closed:

Quote from @Chris Seveney:

@Mike Hern

Ok so they are unlicensed / uninsured escrow agents. I could not figure out what the heck they were or why they were needed. Now it makes sense.

I think they will also fill out the purchase and sale agrements and track the progress of the transaction. Sort of a blend between real estate agent and escrow officer. In that capacity, I believe they give advice (legal?) to get the deal to close and to handle the seller's questions. That's what I pick up.

"No Fear Top Tier - Transaction Coordinator"

We bring you the expertise and experience of Pace Morby's very own transaction trained coordinators. Our T.C.'s bring a wealth of knowledge and proven track record to the industry. We have invaluable insights, as well as 100's of happy investors ensuring you receive Top-Tier Service directly from a . . .

https://www.prnewswire.com/news-releases/top-tier-transactio...

The Ultimate Guide to Generating Wealth Without Owning Property

(I do that without hard costs or a real estate license)

From Pace's Transaction Coordinator Molly Tennant

https://go.toptiertc.com/join-today-a

It's quite a cottage industry. ;-) You can do this from your basement bedroom in your underwear someone said.

negative TC CANNOT fill out the contract that would be illegal. 

[Jay Hinrichs]

Quote from @Chris Seveney:

Quote from @Heather Kiddoo:

I'm happy to jump on a zoom and talk about what TC's do in the creative real estate transaction if either of you are interested @Account Closed @Chris Seveney

 Thanks for the offer, but we have an in house team and use attorneys / escrow companies for all of our real estate transactions. 

Chris,  you are in a completely different business and TCs generally speaking are inn RE sales support for agents.. One of the main things you get from TC and I get these e mails when I am selling and the other sides TC contacts me and says  Hey we need that lead paint disclosure or we need the property disclosure  or if we are buying Hey where is your EM  all the little details .

I have mentioned a few times on BP For all these folks trying to bust into the business but need to make money this is a great way to learn details and make cash without having to spend much if any money other than a computer scanner printer phone.  Like I said in another response to this thread a really good TC will have a hand full of top producer be worth their weight in gold and make a VERY nice living for an in home job that comes to you with little to no over head..  I wonder if Russell Brazil uses one in his market?

[Jay Hinrichs]

Quote from @Russell Brazil:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.

Russ,   do you use an TC  transaction cordinator is that a common practice in your market with top producers like it is out west.. Every top producing agent has a TC in our market here and the Brokerages offer them as an add on for a fee as well.  I think as much as anything the TC will make sure your paper work is 100% complete Brokerages out here will withhold your commish check if your files is not 100% complete with all required disclosures etc.

[David M.]

@Chris Seveney @Jay Hinrichs In NJ, this sort of TC needs to be a licensed agent.  Well, at least if TC is going to contact anybody for paperwork.

If its in pure in-house clerical work, such as my admin looking over my file and telling me I'm missing something, that can be done by a non-licensed person.  

But, if the TC has to contact anybody for paperwork, such as the lead disclosure, it has to be a licensed agent.

For additional reference, this applies to people staffing the office.  If the unlicensed admin has to answer the phone and the caller asks anything about a property, all he/she can do is take a message and refer the caller to a licensed agent.

That's just how NJ work...

[Jay Hinrichs]

Quote from @David M.:

@Chris Seveney @Jay Hinrichs In NJ, this sort of TC needs to be a licensed agent.  Well, at least if TC is going to contact anybody for paperwork.

If its in pure in-house clerical work, such as my admin looking over my file and telling me I'm missing something, that can be done by a non-licensed person.  

But, if the TC has to contact anybody for paperwork, such as the lead disclosure, it has to be a licensed agent.

For additional reference, this applies to people staffing the office.  If the unlicensed admin has to answer the phone and the caller asks anything about a property, all he/she can do is take a message and refer the caller to a licensed agent.

That's just how NJ work...

Like all things RE its state specific for sure.  

[Russell Brazil]

Quote from @Jay Hinrichs:

Quote from @Russell Brazil:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.

Russ,   do you use an TC  transaction cordinator is that a common practice in your market with top producers like it is out west.. Every top producing agent has a TC in our market here and the Brokerages offer them as an add on for a fee as well.  I think as much as anything the TC will make sure your paper work is 100% complete Brokerages out here will withhold your commish check if your files is not 100% complete with all required disclosures etc.

 I have a TC/admin assistant.  The only thing she doesn't do is write offers. Other than that...she handles everything on list or buy side. 

[Jay Hinrichs]

Quote from @Russell Brazil:

Quote from @Jay Hinrichs:

Quote from @Russell Brazil:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.

Russ,   do you use an TC  transaction cordinator is that a common practice in your market with top producers like it is out west.. Every top producing agent has a TC in our market here and the Brokerages offer them as an add on for a fee as well.  I think as much as anything the TC will make sure your paper work is 100% complete Brokerages out here will withhold your commish check if your files is not 100% complete with all required disclosures etc.

 I have a TC/admin assistant.  The only thing she doesn't do is write offers. Other than that...she handles everything on list or buy side. 

Thanks Russ I am sure yours is like my wife worth every penny so you can concentrate on doing deals not organizing your files :)  I can also see in markets that the median sale prices are not like yours and or ours the cost could be prohibitive if your selling 200k homes and then doing commish splits etc.. there is a huge difference in making a 30 or 40k commish and paying 400.00 and making 6 k your broker split then paying the 400.00..  its a far greater % of your income.

[Account Closed]

Quote from @Russell Brazil:

Quote from @Jay Hinrichs:

Quote from @Russell Brazil:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.

Russ,   do you use an TC  transaction cordinator is that a common practice in your market with top producers like it is out west.. Every top producing agent has a TC in our market here and the Brokerages offer them as an add on for a fee as well.  I think as much as anything the TC will make sure your paper work is 100% complete Brokerages out here will withhold your commish check if your files is not 100% complete with all required disclosures etc.

 I have a TC/admin assistant.  The only thing she doesn't do is write offers. Other than that...she handles everything on list or buy side. 

As I think of it, I do remeber a high volume real estate office that had TCs, I think they called them admin assitant's in that shop but what the hay, they got things done. 

The way I've seen TC's being heavily promoted in Mr. Pace's group, is that if the investor find's the deal, the TC will write up the deal "so that it's done correctly", send it by Docusign for signature and then walk it through escrow to closing. From what I am seeing from some of the comments here, that's probably not legal everywhere.

Seems to me that's acting as a real estate agent. But, I am not an agent, so I don't know what the rules are.

I do know from the Arizona Bar conversation, when I called them, it's illegal in Arizona to fill out legal forms for a fee, in Arizona, unless you are an attorney, real estate agent or other appropriately licensed individual.

[Russell Brazil]

Quote from @Account Closed:

Quote from @Russell Brazil:

Quote from @Jay Hinrichs:

Quote from @Russell Brazil:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.

Russ,   do you use an TC  transaction cordinator is that a common practice in your market with top producers like it is out west.. Every top producing agent has a TC in our market here and the Brokerages offer them as an add on for a fee as well.  I think as much as anything the TC will make sure your paper work is 100% complete Brokerages out here will withhold your commish check if your files is not 100% complete with all required disclosures etc.

 I have a TC/admin assistant.  The only thing she doesn't do is write offers. Other than that...she handles everything on list or buy side. 

As I think of it, I do remeber a high volume real estate office that had TCs, I think they called them admin assitant's in that shop but what the hay, they got things done. 

The way I've seen TC's being heavily promoted in Mr. Pace's group, is that if the investor find's the deal, the TC will write up the deal "so that it's done correctly", send it by Docusign for signature and then walk it through escrow to closing. From what I am seeing from some of the comments here, that's probably not legal everywhere.

Seems to me that's acting as a real estate agent. But, I am not an agent, so I don't know what the rules are.

I do know from the Arizona Bar conversation, when I called them, it's illegal in Arizona to fill out legal forms for a fee, in Arizona, unless you are an attorney, real estate agent or other appropriately licensed individual.

 Yeah it sounds like Pace Morby is using an existing term, TC, and completely using it in a different manner. I think thats where the confusion in this thread is coming from.

[Jay Hinrichs]

Quote from @Account Closed:

Quote from @Russell Brazil:

Quote from @Jay Hinrichs:

Quote from @Russell Brazil:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.

Russ,   do you use an TC  transaction cordinator is that a common practice in your market with top producers like it is out west.. Every top producing agent has a TC in our market here and the Brokerages offer them as an add on for a fee as well.  I think as much as anything the TC will make sure your paper work is 100% complete Brokerages out here will withhold your commish check if your files is not 100% complete with all required disclosures etc.

 I have a TC/admin assistant.  The only thing she doesn't do is write offers. Other than that...she handles everything on list or buy side. 

As I think of it, I do remeber a high volume real estate office that had TCs, I think they called them admin assitant's in that shop but what the hay, they got things done. 

The way I've seen TC's being heavily promoted in Mr. Pace's group, is that if the investor find's the deal, the TC will write up the deal "so that it's done correctly", send it by Docusign for signature and then walk it through escrow to closing. From what I am seeing from some of the comments here, that's probably not legal everywhere.

Seems to me that's acting as a real estate agent. But, I am not an agent, so I don't know what the rules are.

I do know from the Arizona Bar conversation, when I called them, it's illegal in Arizona to fill out legal forms for a fee, in Arizona, unless you are an attorney, real estate agent or other appropriately licensed individual.

I dont know I will have to think through that one..  investors can go direct to sellers ( like you do ) and write their own offers.. I think investors could have someone write the offer for them for a fee ?  the TC is not the procuring cause of the transaction and that is the definition of needing a license  bringing buyer and seller together for compensation.  I know i can have my employees write contracts I dont personally write them. but we are also not doing this contract for compensation we are buying it as a principal just like you would be doing Mike for your students.  And maybe if your doing this for your students and expecting compensation then you are the one that may need a license ??  just noodling while I drink my coffee :)

[Account Closed]

Quote from @Jay Hinrichs:

Quote from @Account Closed:

Quote from @Russell Brazil:

Quote from @Jay Hinrichs:

Quote from @Russell Brazil:

Quote from @Timothy Michael Mick:

Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?

 Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.

Russ,   do you use an TC  transaction cordinator is that a common practice in your market with top producers like it is out west.. Every top producing agent has a TC in our market here and the Brokerages offer them as an add on for a fee as well.  I think as much as anything the TC will make sure your paper work is 100% complete Brokerages out here will withhold your commish check if your files is not 100% complete with all required disclosures etc.

 I have a TC/admin assistant.  The only thing she doesn't do is write offers. Other than that...she handles everything on list or buy side. 

As I think of it, I do remeber a high volume real estate office that had TCs, I think they called them admin assitant's in that shop but what the hay, they got things done. 

The way I've seen TC's being heavily promoted in Mr. Pace's group, is that if the investor find's the deal, the TC will write up the deal "so that it's done correctly", send it by Docusign for signature and then walk it through escrow to closing. From what I am seeing from some of the comments here, that's probably not legal everywhere.

Seems to me that's acting as a real estate agent. But, I am not an agent, so I don't know what the rules are.

I do know from the Arizona Bar conversation, when I called them, it's illegal in Arizona to fill out legal forms for a fee, in Arizona, unless you are an attorney, real estate agent or other appropriately licensed individual.

I dont know I will have to think through that one..  investors can go direct to sellers ( like you do ) and write their own offers.. I think investors could have someone write the offer for them for a fee ?  the TC is not the procuring cause of the transaction and that is the definition of needing a license  bringing buyer and seller together for compensation.  I know i can have my employees write contracts I dont personally write them. but we are also not doing this contract for compensation we are buying it as a principal just like you would be doing Mike for your students.  And maybe if your doing this for your students and expecting compensation then you are the one that may need a license ??  just noodling while I drink my coffee :)

Interesting angle, but I don't write the contract for students or even investors that I buy for. They have that responsibility. In a court case or two, I was asked by the opposing attorneys the question, "who filled out the forms and wrote the contracts". Their mere interest in knowing who, made it clear that if you aren't the principal, someone who did fill out the forms, is going to called to the witness stand. :-)

I also take the position that if you are going to form LLCs and such, do it with someone who will defend it in court. Meaning, the only time it matters really is when it is called into question. Using online sources to do an LLC seems a bit silly. It gives the appearance but no protection.

In Arizona at least, you can't charge for filling out forms if you are not an agent or an attorney. If you don't charge for doing so, that's legal, but if you make a mistake you get to explain to the judge why you did it the way you did it.

[Heather Kiddoo]

Quote from @Account Closed:

Quote from @Heather Kiddoo:

I'm happy to jump on a zoom and talk about what TC's do in the creative real estate transaction if either of you are interested @Account Closed @Chris Seveney

Just a simple question or two. Are you licensed by the state in the states you practice in? Do you have any liability to the buyer or to the seller after the Deed is recorded? Just curious.

 Hi Mike. I just realized I didn't answer your question. We are a 3rd party administrator hired by an investor to help with communication, paperwork and deal flow throughout the transaction. 

We don't fill out contracts, or write promissory notes/deeds of trust. We are not legally qualified to do that. If a real estate agent has a TC in office - that TC is likely a licensed real estate agent in that state and they are able to fill out contracts for the agent. 

We are creative finance TC's and don't work for agents so we do not fill out contracts and are not licensed unless the state requires. As of now CA is the only one. My partner is licensed in CA and transacts all of our CA files for investors. 

We don't have a legal liability to the buyer or the seller after closing as we are not a JV or partner in the deal, unless of course we are, then we do have a legal obligation.

Investors who are very busy benefit from a transaction coordinator in the creative real estate space as there is a ton of communication that needs to take place. Additionally new creative investors who have no idea what is going on benefit from us. We don't fill out contracts but we are able to explain what they mean so newer investors can understand what is going on. Additionally newer investors often don't have any idea what to do once they have a signed contract and we walk them through that process. 

We work with attorneys, title and escrow agents, buyers/sellers and agents during the deal flow. Examples would be if our clients need inpections, if attorneys documents signed, we help get insurance quotes, we are the main line of coummunication between the above parties and the investor which streamlines the entire process. 

Many investors don't use or need TC's but there are a ton that do. Cash wholesaler on the A-B side won't need them. Additionally if an investor is working with an attorney predominantly, that attorney may or may not request a TC to help out. 

[Jay Hinrichs]

Quote from @Heather Kiddoo:

Quote from @Account Closed:

Quote from @Heather Kiddoo:

I'm happy to jump on a zoom and talk about what TC's do in the creative real estate transaction if either of you are interested @Account Closed @Chris Seveney

Just a simple question or two. Are you licensed by the state in the states you practice in? Do you have any liability to the buyer or to the seller after the Deed is recorded? Just curious.

 Hi Mike. I just realized I didn't answer your question. We are a 3rd party administrator hired by an investor to help with communication, paperwork and deal flow throughout the transaction. 

We don't fill out contracts, or write promissory notes/deeds of trust. We are not legally qualified to do that. If a real estate agent has a TC in office - that TC is likely a licensed real estate agent in that state and they are able to fill out contracts for the agent. 

We are creative finance TC's and don't work for agents so we do not fill out contracts and are not licensed unless the state requires. As of now CA is the only one. My partner is licensed in CA and transacts all of our CA files for investors. 

We don't have a legal liability to the buyer or the seller after closing as we are not a JV or partner in the deal, unless of course we are, then we do have a legal obligation.

Investors who are very busy benefit from a transaction coordinator in the creative real estate space as there is a ton of communication that needs to take place. Additionally new creative investors who have no idea what is going on benefit from us. We don't fill out contracts but we are able to explain what they mean so newer investors can understand what is going on. Additionally newer investors often don't have any idea what to do once they have a signed contract and we walk them through that process. 

We work with attorneys, title and escrow agents, buyers/sellers and agents during the deal flow. Examples would be if our clients need inpections, if attorneys documents signed, we help get insurance quotes, we are the main line of coummunication between the above parties and the investor which streamlines the entire process. 

Many investors don't use or need TC's but there are a ton that do. Cash wholesaler on the A-B side won't need them. Additionally if an investor is working with an attorney predominantly, that attorney may or may not request a TC to help out. 

bottom line you do much of what Ken does for a fraction of the price :)  

[Eric James]

Quote from @Jay Hinrichs:

Quote from @Account Closed:

Quote from @Chris Seveney:

@Mike Hern

Ok so they are unlicensed / uninsured escrow agents. I could not figure out what the heck they were or why they were needed. Now it makes sense.

I think they will also fill out the purchase and sale agrements and track the progress of the transaction. Sort of a blend between real estate agent and escrow officer. In that capacity, I believe they give advice (legal?) to get the deal to close and to handle the seller's questions. That's what I pick up.

"No Fear Top Tier - Transaction Coordinator"

We bring you the expertise and experience of Pace Morby's very own transaction trained coordinators. Our T.C.'s bring a wealth of knowledge and proven track record to the industry. We have invaluable insights, as well as 100's of happy investors ensuring you receive Top-Tier Service directly from a . . .

https://www.prnewswire.com/news-releases/top-tier-transactio...

The Ultimate Guide to Generating Wealth Without Owning Property

(I do that without hard costs or a real estate license)

From Pace's Transaction Coordinator Molly Tennant

https://go.toptiertc.com/join-today-a

It's quite a cottage industry. ;-) You can do this from your basement bedroom in your underwear someone said.

negative TC CANNOT fill out the contract that would be illegal. 

 Apparently that's what Pace TCs do.