Qualia and ALTA”
What is the Qualia?
After ratification the settlement company will email you a Qualia questionnaire
with a “tasks” link for you to click, fill in and submit.
The Settlement company will need some contract details from you.
Termite?
Home Warranty?
Commission?
Brokerage fee?
Client information?
What is the ALTA?
This is the closing document which details your client’s settlement costs. It is given to you in advance to be sure it’s right.
If it’s wrong, you need to reply to the settlement company to fix it. If it’s ok, reply “it’s good to go”. This is an agent responsibility and you should do it right away.
What are the main things for you to look for in your ALTA review?
Sales Price?
Sales Price?
EMD amount?
Commission (check the math)
Brokerage fee ( $495 paid by your client)
Rebate if applicable
Reimbursement to agent for fronting a payment (if applicable)
Get back to the settlement company asap once your review is complete.
This has been another exciting “Training in a Minute”.