Meet Mindy Kapit, Licensed Transaction Coordinator at Kapital Brothers
Mindy is the better-half (aka, Jason's wife) and the one behind the scenes, handling contract-to-close, once a contract has been inked. She is the quintessential Transaction Coordinator (TC). Her background puts in her a uniquely qualified position to excel at such a role. Consider that she was a former practicing attorney and a professional organizer. In essence, you have a legal mind who is really good at paperwork, BOTH a big plus when it comes to successfully closing out real estate transactions.
So what exactly does a Transaction Coordinator do?
- Liaise between the seller, buyer, escrow, agents and various third parties.
- Review the purchase agreement for completeness.
- Ensure the buyer's earnest money deposit is in escrow on time; determine if/when buyer's earnest money deposit is subject to forfeiture upon default.
- Review the escrow instructions for errors.
- Draft addendums.
- Monitor deadlines during the contingency period.
- Ensure all inspection, appraisal, and loan commitments are tracking on time.
- Ensure the loan officer/lender/underwriter has access to all documentation needed to effectuate the transaction.
- Obtain all contingencies by their removal date, or serve the buyer/buyer's agent a notice to perform.
- Deal with the request for repair process or waivers.
- Obtain other waivers where applicable.
- Coordinate the final walk-through.
- Document communications among the parties.
- Audit the file prior to close of escrow to ensure all paperwork is complete.
- Ensure tax withholding exemptions, such as Foreign Investment in Real Property Tax Act (FIRPTA), are complete.
- Create a complete file for the client (if not provided by closing agent), typically in electronic format, which will help with IRS filings the following April.
Mindy graduated from the University of Pennsylvania, and then attended law school at the University of Miami. Upon graduation she took a job as a family attorney, on Miami Beach, where she worked for 6 years on domestic cases ranging from divorce, adoption, and everything in between. She understands the family dynamic and how these issues directly relate to real estate, which certainly helps her perform in the TC role.
Mindy was born in Philadelphia and grew up in Warrington, PA. She moved to Miami to attend law school and met her soulmate at Tobacco Road, Miami's oldest and most nostalgic bar. They have been married for 22 years and have two kids, 3 dogs, and lots of chaos. The typical home ... but wouldn't have it any other way. If she's handling your transaction, trust me, you will be well cared for.