Novation Training
Working Novations: Advanced Training for Wholesale Transactions
$97 add-on • Self-paced
Most transaction coordinator training covers the standard purchase-and-sale deal. But if you work with wholesale investors, you'll run into novations — and they don't work like a typical closing.
This add-on module teaches you exactly how to manage a novation file from open to close: what makes it different from an assignment, how the investor actually gets paid, what belongs in the file, and where TCs get it wrong.
What's included:
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The full "Working Novations" training module — what a novation is, when it makes sense, and the TC's role and boundaries on one
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A step-by-step walkthrough of working a novation file, from file open to closing
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A document checklist and the eight checks every novation agreement needs before it goes out for signature
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State disclosure considerations, with a real-world example
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How to review the HUD/closing statement on a novation file
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Ready-to-use email templates for title companies, signature requests, and closing confirmations
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A knowledge-check quiz with answer key, so you can confirm you've got it
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Who this is for:
TC's who work with (or want to work with) wholesale investors. If your clients are mostly traditional buyers and sellers, this one's optional — but if novations are already showing up in your files, this module will save you from learning it the hard way.