Transaction FAQs
Get answers to your most asked questions about transactions
Transaction FAQs
FAQ 1: Can I attach specific contracts and closing documents directly to a transaction? Answer: Yes. Within each Transaction profile, there is a dedicated Documents section. You can upload and store your purchase agreements, inspection reports, and closing disclosures right next to the deal data, ensuring all your paperwork is organized and easily accessible for compliance.
FAQ 2: What are the different "Stages" of a transaction? Answer: Transactions typically move through: Active/Listing, Under Contract, Inspection/Appraisal, Closing, and Closed. You can move the deal through these stages to update your pipeline in real-time.
FAQ 3: How do I close out a deal? Answer: Once a deal has funded, change the transaction status to Closed. You will be prompted to enter the final sale price and the actual closing date for your year-end financial reports.
FAQ 4: Can I manage a transaction for a Buyer and a Seller at the same time? Answer: Yes. You can create separate Transaction files for each side of the deal, even if they are tied to the same property address, to ensure your paperwork and commissions are tracked accurately.
FAQ 5: Is there a way to track "Lost" or "Cancelled" deals for future analysis? Answer: Definitely. Instead of deleting a deal that falls through, change the status to Cancelled or Lost. This removes it from your active pipeline while keeping the data available in your reports so you can review why certain deals didn't close and improve your conversion rate.