A __________ is performed when an active agreement is in the system and the seller is offering the remainder of the agreement to the new buyer.
Transfer of Ownership
15
Which parties can request/initiate a Transfer of Ownership?
Seller, Listing Agent, AHS/HSA Field Rep, Closing Company
15
if a representative from the closing company requests/initiates a Transfer of Ownership what document must you request?
Purchase & Sale (signed agreement)
15
If a Transfer of Ownership is being requested can a seller remove their payment and have the buyer add theirs to resume monthly payments on the new method?
No
15
A proration is a _________ amount that is calculated from the ________ unused portion of the existing home service agreement and is then applied toward the purchase of a new home service agreement for the new buyer.
credited; unused
15
True/False - When setting up a proration you will need to add seller's coverage.
False
15
Heather Smith called in to prorate her client, Danny Harrington (the seller's) warranty. Upon reviewing it you see Danny is paying monthly and his next payment is due on 7/15. They are set to close on 7/30. Can you prorate today?
No. Not until after his next payment is deducted.
15
When processing a proration you should always remove what?
The seller's payment source.
15
A proration smart form must be completed for which two types of prorations?
Zero Credit & Over Proration
15
A Zero Credit Proration refers to instances where there is a credit of less than $_______>
$25
15
In the event of an Over Proration what must you request a copy of?
HUD/Closing/Settlement Statement
15
In Sales Central where would you go to update a customers payment source?
Accounting followed by Payment Soucre
15
What is the name of the option in CCP that generates prepopulated departments?