If you’re ready to close out a file and thinking about purging emails related to the transaction, think again!
Emails are the simplest method of documenting what happened during a transaction. For most of us, communication is now performed via email. (Yes, I’m old enough to remember when we used phones and FAX’s!).
Documentation, in the event of a transaction related lawsuit, provides written evidence of activities and events. Although many challenging transactions feel like you’ll never forget what happened, all of us tend to lose the details of the story after time. And you never know when a seemingly easy transaction turns sour a year or two after close.
In the old days, our office required we write down activities completed for a transaction plus phone conversations we had with other team members…a lot of work!
Today, we encourage team members to communicate via email, so documentation is easily completed!
A great example of how email correspondence protects and save time is document requests from the other agent. If the agent fails to provide you with required documents for a file, email requests help show proof of your attempts to obtain them. By resending the same email request, you save time!
EscrowCoord.com uses a system of rules and folders to store incoming and outgoing emails for each pending sale. This can total upwards of 150 emails or more for just one transaction!
After the property closes, emails are converted into a PDF and delivered to our represented agent for safe keeping before they are purged from our email accounts.
Having solid documentation stored in a readable format for many years to come provides an important set of tools you may need to fend off incoming legal problems after close of escrow.
Use emails as your best method of documentation to save you time to work on more money making activities.
Contact Diana at EscrowCoord.com today to find out how we help you with documentation and save time, money and hassle managing your pending sales!