Contract Administrator

JOB DESCRIPTION: Development Project Contract Administrator

General Description
Reporting to the Executive Vice President of DEDM

Objective: Enthusiastic and committed Contract Administrator looking for a position using strong communication and organizational skills, and experience in sales contract coordination and escrow management for the development project.

Essential Functions

• Contract/Closing Administrator Responsibilities

Audit contracts received from sales staff, and ensure that all contract requirements are satisfied before presenting purchase agreements to the developer.

• Correspond with mortgage brokers, paralegals, and developer on daily challenging circumstances and collaborate on providing resolutions.
• Act as primary liaison between office, brokers, and clients for all concerns such as contract deposits, walk-through appointments, real estate appraisal questions, and commission structures and payments.
• Responsible for converting reservation agreements into purchase agreements as well as collecting contract deposits.
• In charge of alerting the escrow company of impending wires and allocation of funds, as well as providing them with copies of contracts, and buyer’s respective W9 or W8 forms.
• Coordinate property closings, and approve closing statements.
• Act as an intermediary in negotiations between buyer and seller.
• Provide respective developer with monthly contract transmittal and sales reports.
• Legal knowledge is a requirement; must be familiar with Florida new development contracts and condominium documents.

DUTIES AT RESERVATION:

- Set up reservation files and paperwork
- Manage inventory with sales manager
- Audit reservation agreements as they come in.
- Follow up with agents on any missing information in the file
- Update Res Log and Pending Report daily
- Claim incoming wires with Title Company and collect deposit checks for processing
- Record all Notice of Deposits for Escrow agent
- Prepare completed reservation agreement files for developer signing
- Scan all signed documents to agents and buyers
- Input signed reservation agreement information into econdos

DUTIES AT CONTRACT:

- Prepare contract files and paperwork when ready to convert (this will include condo doc receipts, floor plans and all other necessary paperwork)
- Update Contract conversion report daily

- Keep track of FedEx contracts sent out for signing
- Collect monies due as per deposit structure
- Record all Notice of Deposits for Escrow agent
- Prepare completed contract agreement files for developer signing
- Process broker payments
- Audit contract agreements as they come in, follow up with agents on any missing information or paperwork in the file
- Copy and Scan/Mail all executed documents to agent, buyer and outside broker
- Update econdos with status changes

DUTIES AT CLOSING:

- Prepare closing paperwork
- Coordinate client walk thru
- Coordinate escrow transfer to closing agent
- Act as liaison between buyer, developer and closing agent
- Process all closing documents
- Process broker payments
- Update Closing Conversion report daily

One Month prior to estimated conversion date:

• Follow up with buyers / brokers on all contact information (this process should start at a minimum of 30 days prior to contract or sooner if we know exactly when we are converting)
• Update e-condos with copies of all contract paperwork so its auto-generated for printing

2 Weeks prior to estimated conversion date:

• Ordering of supplies such as paper, “sign here” flags, and FedEx mailing envelopes
• Uploading of buyer addresses to FedEx Online Database for printing of air bills (we will be placing a prepaid return envelope in the package

1 Week prior to estimated conversion date:

• Contract Admin conversion meeting/ training of process with 2 assistants (Sales assistant,

DE personnel & Receptionist)

• Start the printing and auditing of contracts to be sent out the following week
• Preparation of the following reports: Contract Conversion Report (will track our sellout conversion rate), Contract Status Pending Report (will report agent notes on deals pending return of signed contract), Contract FedEx Tracking Report (linked with Status

Pending Report, will detail the tracking from FedEx on each package), Contract AuditReport (will indicate those deals and that returned incomplete and what is missing/pending from the file)
Week 1 of conversion:

• Our daily goal is to send at least 25 contracts per day, which means we should have all contracts out within a one to two week period
• Once contract is cleared by management, make copies necessary for buyers and our documentation, flag the signatures, prepare the air bills and packages for sending
• Coordinate the daily pick up and drop off with FedEx
• Start the contract conversion and contract audit reports based on any deals that are returned that same week and moving forward this will be updated daily
• Claiming of wires and/or processing of 2nd deposit received

Week 2 of conversion:

• Start the tracking report and pending status conversion based on any deals that are still lingering from the week before… this will be updated weekly
• Continue to send out contracts, keeping our quota of 25 per day
• Continuation of payment processing
• Scheduling with developer to sign fully executed contracts… we need to plan for this to be AT LEAST a weekly process

Week 3 of conversion:

• Once all contracts are out our sole focus will be to convert all units to contract status within a 2month period.
• Once contracts are fully executed by the developer, a copy will be scanned to the e- condos system and the buyer/broker will be emailed copies
• Preparation for paying brokers their initial payment needs to start within the 3rd week of the conversion process, the estimated pay day for brokers is 20 days after the contract goes hard.

Qualifications

• College graduate; 2 years experience in Contract Administration preferred
• Demonstrated interest in Real Estate
• Determined, strong work ethic, positive attitude, team player, resourceful and detail- oriented with high energy
• Proficient in Microsoft Office, as well as e-condo Systems and an understanding of general technology and office equipment
• Ability to excel in fast-paced atmosphere

Job Type: Full-time

Pay: $75,000.00 - $85,000.00 per year

Schedule:

• 8 hour shift

Experience:

• Contract Admin: 2 years (Required)

Work Location: In person

Salary : $75,000 - $85,000