To stay out of trouble
You should come to training. But when you can’t, at least call Paul or I when in doubt.
Two recent trouble areas:
1) Avoid being reported for this DPOR Violation:
You are required to turn into the office all ratified listings, sales contracts, any earnest money and the case processing sheet immediately after ratification.
Not to do this, is a Violation and we are required to report you to DPOR. If we don’t report you, we also are in Violation.
2) The Financing Contingency: If your buyer has a buyer contingency for a certain number of days, it is your responsibility to release that contingency by that date or make an addendum extending the financing contingency. ( if you are on the listing side, it’s still your responsibility to get this handled.)
Within the number of days on the contract, you need either an acceptance or denial.
1) An acceptance, whereby you release the contingency or
2) A denial, whereby you cancel the contract.
If you can’t get either, write an addendum extending the deadline.
Lately at National, we have had several incidents where lenders just don’t get back to you at all or keep telling you they need another document. That’s why I seriously recommend Andy Sikora as lender. He’s your guarantee to keep you informed and out of trouble. He’s trustworthy and has great rates. And he has free personalized marketing materials for you.