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Buyer and Seller Checklists

Friday, May 22, 2020   /   by AJ Shepard

Buyer and Seller Checklists



Speaker 1:

Okay. Let me get this fired up here. All right, so today I'm talking about buyer and seller checklists or plans in sync. I just actually used one today, started one today on the house that I got under contract today. So I'll be able to tell you guys how it goes, but I built these out and feel free to use them. So to get it set up or once you get a place under contract, just click on lead, go to reminders and plans and there'll be pictures in this afterward. And then click start plan and select your plan. After starting the plan, you will have tasks to complete for the next 31 days. I've made it 31, but obviously I know that there are some deals that are longer or shorter. But just make sure you're hitting those tasks as you go through the process, whatever your timeframe is or your timeline is until it's closed.

Speaker 1:

Here's a screenshot of where the reminders and plans section is over here. Once you select lead and then here is the starter plan. And as you see here, you can select a buyer and contract checklist or seller and contract checklist, whatever you are working on. And once you select that, here are all the tasks and there's more I'll show you in a sec, but these are the tasks that need to be done. And feel free to let me know if I need to add or adjust anything.

Speaker 1:

And then a seller checklist is... That was a buyer checklist. Seller one is really similar minus scheduling inspections and that sort of thing, which I'll show you the differences in a sec. But the checklist is designed to make sure we're following all the timelines and getting all the necessary documents to escrow or the lender if you're working on the buyer side. And it just helps to keep the deal on track. And then I added in here, there's two times kind of throughout the process where I'm reminding people or the task will remind you to make sure all the docs are sent in because I know there's been some cases where some docs get forgotten until the very end and-

Speaker 2:

Scrambling for signatures.

Speaker 1:

Yeah and so this is hopefully going to help mitigate that and avoid any hiccups right near the end of closing. And then like I talked about, it's just a good way to stay on track with your buyer and seller clients. And it's easy to initiate once you get someone under contract. A couple of buttons and you're ready to go. And then do you have any questions before I show you what the plans look like?

Speaker 2:

Yeah, I got a question. So are you able to kind of alter it at all? Like a phase one or I don't know, just a different inspection or something like that?

Speaker 1:

Yeah, you can add a reminder or if you go in and create your own plan for that certain scenario, you can just copy this one and then you can add or delete or edit the steps along with it.

Speaker 2:

Got it. Okay.

Speaker 1:

And I'll talk about that too. So we'll go to sync here and then we go down to plans and if you click templates... These are active right here, the people that are in it. But if you go to templates, you'll see what's in the plan. So here's the buyer one. So as soon as that button is flipped into under contract, it'll have a task to schedule inspections because as a buyer that's pretty much the first thing you're going to do. And then send all new docs to escrow/lender. Make sure the lender and the escrow officer are up to date with the sales agreement, any addenda that were put in about base paint, exposures, et cetera.

Speaker 2:

How detailed would we want this to be? Do we want to have action as an email to send to the... Like a template email to send to your buyer with the instructions of what to expect and grab? Blah, blah, blah.

Speaker 1:

Yeah, I mean we could add that. Personally, I usually kind of just talk through that on the phone with someone.

Speaker 2:

I do as well, but I really like if you're changing emails.

Speaker 1:

Yeah. So I mean we can... I don't know if I can put that into here. I guess I can. So email and then, yeah, so I can go through and build out a template email for it. And then that'll send immediately after that button is clicked. So yeah, that's a good idea. And then three days after I think is what I put earnest money. Yeah, the earnest money is due in three days. You'll have a task reminding you. So after day three, three business days, make sure that's done. Same thing. This is when the inspection period is finished, I set it to 10 business days, which is the standard for Oregon.

Speaker 1:

This is when a task is complete, you can have it send a text to yourself or whatever, but we're going to be the ones adjusting it or completing it so left that blank. And then here's another one, sending docs to the lender. After the inspections are done, you usually either have a repair addendum or some sort of addendum to get over to the necessary party that needs it. This is one that I've been forgetting, unfortunately.

Speaker 2:

For sure.

Speaker 1:

So I added that in there. Submit and complete the broker demand. I have been waiting till the last minute to do that and I need to get better at that so I threw that in there as well. And then schedule a time to make sure your buyers schedule their signing. I know that's pretty much the escrow officer's going to take care of that, but it's always a good thing to double-check. And then schedule a time with the listing agent when you can hand these out to your buyer and then the deal is completed. And once the deal is completed, here is the link for our spreadsheet to put your sale to the tracker.

Speaker 2:

That's cool.

Speaker 1:

And then if we go back to the seller one, like I said, it's really similar and I'll do a welcome email for sellers too. But no inspections need to be scheduled so I removed that. But if there's any docs that you need to send to the lender, there's a reminder for that. Make sure the buyer has got the earnest money deposited and you have a receipt of that. Here's the inspections that are being done. Another reminder of the docs, broker demand, talk with the buyer's agent when they're going to hand keys off. That's Spanish. And then deal completed.

Speaker 1:

So I mean there are not many steps to it, but I think it's going to be a good way for us to have something that's automatically there.

Speaker 2:

Yeah.

Speaker 1:

You're not having to go back all the time and see when the deal got started, all that good stuff.

Speaker 2:

And these are the big steps for sure.

Speaker 1:

Yeah. And there are smaller checkpoints along the way, but these ones have to be done. And the inspection period, that's the main thing that you got to get through. Especially on the seller side.

Speaker 2:

Yeah, this is great. Thanks, man.

Speaker 1:

And yeah, their public. I think anyone can add them to their clients. So have at it. And then I sent everyone a new broker demand form that I made last night. It's just a little bit cleaner than the old one that I made. And that does have a template in the... I guess I don't have right here. But there is a template and a doc to sign for that as well already, so.

Speaker 2:

Yeah. Cool.

Uptown Properties
Chris Shepard
3526 SW Troy
Portland, OR 97219
503-941-0276
Fairway Independent Mortgage Corporation
Mike Maier
5410 SW Macadam Ave, Ste 100
Portland, OR 97239
503-545-9879

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