Applied Methods and Techniques Flashcards

A TC gets an email from the 'title company' with new wire instructions the day before closing. What is the correct procedure?

Answer: Treat it as possible fraud and have the buyer verify by phone using a known, independently confirmed number

Last-minute changes to wire instructions are a classic sign of wire fraud and must be verified through a trusted channel.

Which technique best helps a TC prioritize daily work across many files?

Answer: Sorting tasks by upcoming deadline and risk, then handling the most time-critical items first

Prioritizing by deadline and risk protects the most critical contractual dates.

When a contingency is removed, what documentation should the TC confirm?

Answer: A signed contingency removal or release form delivered as the contract requires

Contingency removals generally need a signed written form delivered according to the contract terms.

A TC finds that a counteroffer was signed by the seller but never initialed where changes were made. What is best practice?

Answer: Ask the listing agent to get the missing initials and update the file

Missing initials should be fixed by the party themselves to keep the documents enforceable and compliant.

What is the main benefit of an opening 'intro' email to all parties at the start of escrow?

Answer: It shares contact information, key dates, and roles so everyone knows who handles what

An introduction email sets expectations and communication channels from day one.

How should a TC handle a file containing documents with the buyer's Social Security number?

Answer: Use secure, encrypted transmission and storage, and limit access to authorized parties

Nonpublic personal information must be protected under privacy and data security rules.

A buyer asks the TC whether they should waive the inspection contingency. What is the proper response?

Answer: Refer the buyer to their agent or an attorney, since that is advice outside the TC's role

Unlicensed TCs should not give advice on contract strategy; they refer such questions to the agent or attorney.