Novation transaction coordinator for two contracts, one closing.
In a novation the investor steps into the seller’s contract and sells the property to an end buyer, who usually brings their own financing. The seller is paid at that closing. There are two agreements and two sets of deadlines on one file, and the end buyer’s lender runs on its own clock.
The novation checklist. Tap each item as you read it.
Every novation file gets this list, in this order. When the bar is full, you have seen everything Kristen tracks from contract to first payment.
Kristen coordinates. The licensed people do the licensed work.
On a novation file the lines are the same as on every file. Clear roles are what keep a creative deal clean.
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01
Your attorney drafts
The note, deed of trust, addenda and any state-required notices come from your attorney. Kristen never drafts a legal document and never gives legal or tax advice.
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02
Your title company closes
Title search, commitment, closing, funding and recording happen at your title company or closing attorney. Kristen keeps them supplied and on schedule.
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03
Your servicer collects
Payments after closing run through a loan servicer. Kristen sends the setup packet and confirms the account is live. The servicer collects.
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04
A lender lends
Dean Creative Closings is not a lender or mortgage loan originator. Who may originate a seller-carried note is a question for your attorney or RMLO.
Dean Creative Closings is not a law firm, lender, mortgage loan originator or title company and does not give legal or tax advice.
What usually goes in a novation file.
Your attorney and title company set the final list. These are the items Kristen asks for first, and who usually provides them.
- Signed purchase contract From You
- Novation agreement From Your attorney
- End-buyer purchase contract From You
- Current mortgage statement From Seller
- Payoff or loan balance letter From Seller’s lender
- End-buyer lender contact From End buyer
- Entity documents From Buyer
- Photo ID for every signer From Buyer and seller
One flat price. Add only what the file needs.
$1,195 for a novation file. $250 opens it and the balance is due at closing. The three add-ons are priced the same on every deal type, and the full list with a total builder is on the Pricing page. New to it? Read what a novation is in real estate first.
Setup packet to your servicer, account confirmed before closing. $250
New policy placed with the right parties named, old policy handled. $150
Closing in under 10 days. $250
The ones novation clients ask first.
Plain answers. The full list is on the FAQ page.
What is different about a novation file?
Two contracts and an end buyer with a lender. Kristen tracks the seller agreement and the end-buyer contract on one calendar, including the end buyer’s option period, appraisal and lender conditions.
Who drafts the novation agreement?
Your attorney. Kristen gets them the contract and the facts of the deal, tracks the draft to signed, and makes sure the title company has it.
Do you handle the end buyer’s lender?
Kristen tracks the lender’s deadlines and conditions and keeps the title company supplied. The lender lends; Dean Creative Closings is not a lender or loan originator.
Do you give legal or tax advice?
No. Dean Creative Closings is not a law firm, lender, mortgage loan originator or title company. Kristen keeps the file organized and moving between the people who do those jobs.
Not a novation? The other five.
Same checklist discipline, priced flat per file. Or tap through the picker.
Open the file today. Kristen takes it from here.
Novation file $1,195. $250 opens it, $945 at closing.
Call or text 940-206-4427 or email kdean2014@yahoo.com