FAQ

What does a Transaction Coordinator do?

Scope of Work - Transaction Coordination

• Open escrow (including the sourcing of a creative-friendly agency)

• Review title commitments and HUDs for accuracy

• Prepare simple (nonfunctional) addenda, extensions, and other documents related to the transaction

• Follow up with all parties as necessary via phone, text, or email to ensure tasks are timely completed, including but not limited to:

  • • Ensuring wire instructions have been sent to buyers and/or funding from PML / HML is on track for timely closing

    • E-signatures

    • Requesting documents/payment

    • Verifying receipt of documents/payment

• Provide regular status and to-do updates for all parties as appropriate

• Retain a copy of all involved documents for 1 year

• Make sure Assignee/End-Buyer receives all seller details/ servicing package/ Insurance contact/ LPOA/ Login Portal; recorded deed / closing documents

What types of deals do you coordinate?

• Cash

• Subto

• Seller Finance

• Hybrid

• Novation

• Wrap

• Morby Method (on a very limited basis)

What are Creative TC's Core Values

1. Lead with value

2. Take initiative and be resourceful

3. Pay attention to detail

4. Be relatable

5. Advocate for the client

Who do you work with?

Cash and Creative wholesalers and buyers.

What states do you work in?

All 50 states + Washington DC.

If I have a “yes” from my Seller/Buyer, can you prepare a contract and get it signed for me?

Yes. This is one of our specialty services. See or pricing sheet for details.

Why do you require a Memorandum of Contract on every deal?

Memorandums can and should be placed on every purchase contract. We want to protect your deal. We want to protect our ability to charge our transaction fee. We want to work with businesspeople who work professionally and take themselves seriously. Finally, with our video-based notary and e-Recording services, it's fast and easy.

What paperwork is required for a creative transaction?

It varies. We and the closing agent will let you know. Other than the Purchase Contract, a Memorandum of Contract, and any relevant JV and Assignment agreements, the type of deal, the local laws, the parties involved, and other factors may dictate which paperwork is required.

Who do you communicate with?

All parties involved in the transaction. Our job is to coordinate and that means we’re requesting information, sending reminders, getting amendments signed, tracking dates, and reviewing paperwork for accuracy. We can only do all that if we’re connected to the wholesaler, escrow company, Seller, Buyer, dispositions manager, and other relevant parties.

Can you use my preferred title company / attorney?

Maybe.
Ultimately, we will make the final decision on whether to use a specific title company / attorney. We maintain a list of creative-friendly title companies and attorneys, and we find/vet new ones as-needed, including yours.

Can you self-perform a closing?

Not at this time.

How are your fees structured?

1st half due upfront; 2nd half billed only if you close.

We’re in this together and we don’t think it’s fair to force you to pay for the whole transaction if you don’t finish. We’ve got skin in the game, just like you.

What types of loans or liens can be taken subto?

The better question is: what types can't be taken subto? Bring us your situation and let us make the paperwork sing a song of success.

How do I ask questions of a Transaction Coordinator?

Send an email to support@creativetc.io with your question. Or if you're already active on a transaction, email or call your TC directly.

Can you dispatch a mobile notary for my Buyer/Seller/whoever?

We have a webcam-based notary service as long as the person has an internet connection and camera... Otherwise, they can visit a UPS Store or other special arrangements must be made.

Can you do loan modifications?

No. We do not get entangled in loan modifications.

Can you explain the creative finance process to my Buyer?

Yes, you can book a paid consult for any purpose at any time, subject to availability.

Can you draft legal documents?

In many cases, yes. We need further detail on a case-by-case basis before we can commit though, so send an email to support@creativetc.io

How fast can you close?

It varies; 7-14 days is typically the fastest. For our part, 7 days or less, but it often depends on factors outside our control. We work hard to influence the timeline in your favor, but ultimately other parties have to respond and do their part.

Can you speak Spanish?

YES. We have Spanish-speakers on our team.
Si. Hablamos Español.

What if I have questions before I submit my deal?

Send an email to support@creativetc.io

Do you set up Loan Servicing for me?

As of Q3, 2022, we cannot set up loan servicing on behalf of others. This is due to the inconsistency of the amount of additional effort/hours required as a result of the various companies failing/refusing to interact with us instead of the actual buyer and seller.

When would I need a Creative Underwriting Consultation?

See our Consultation page for explanations.