New Homes Transaction

These are the steps to follow when adding a new home transaction.

1. Enter deal into 2.1. of Back Office (Lone Wolf)

   1. Key info:

      • Add address information

      • Offer date: On agreement (acceptance date)

      • Firm date: 10 Days after acceptance

      • Close date: Tarion Agreement close date

      • Sell price: Base net HST use calculator to determine: _______

      • File requirements: If any checklist items are already fulfilled, check the boxes to complete

   2. People:

      • Add seller (builder)

      • Add buyer

      • Add applicable lawyer information

   3. Outside Brokers (if not Rego Realty buyer agent):

      • Add outside brokers (Not Rego Realty) 

      • We pay = Yes (double check with Maria)

   4. Commission:

      • Listing Commission will be dependent on the listing agreement with the builder - discuss with Cliff

      • If applicable - add outside brokers commission (check the co-op to see the outside broker’s commission)

   5. Agent Info: 

      • Add New Homes Agent as the Listing Side agent (With side count of 1)

      • If applicable - Add the Cooperating Agent (From Rego Realty) as the Selling Side agent

   6. Navigate back to the Commission tab and Add sub-trade B, repeating steps a-e above.

2. As mortgage letters/cheques are received, New Homes Coordinator will upload documents/copies to loadingDOCS 

3. When deal is firm, Deal Coordinator receives a notification that the deal is ready to invoice the builder/pay.

4. Edit sub-trade A close date to 30 days from invoice date

5. Confirm with Cliff the trade is correct 

6. On sub-trade A close date, finalize sub-trade A 

7. Send trade record report for signing for sub-trade A

8. Sub-trade B will remind you 30 days before closing to finalize to ensure it can be closed, if sub-trade B will be extended, adjust the closing date

9. On sub-trade A close date, finalize sub-trade B