New Construction Dotloop Guide

New Construction Dotloop Guide

For new Construction:


PLAYLISTS:      Short, step-by-step videos designed to walk you through your first few offers/listings.  Open MLS, DOTLOOP and Playlist on your computer.  As you watch the videos, you can pause videos, go do it, rewind until you get it, or skip it if you know that skill.  HELPFUL!!

Buy Side Residential: https://www.youtube.com/channel/UCeP4ENAp-ytX1PTRR7xxHfQ/playlists


 

  1. You will use the Developer Purchase (New Home) Loop template. 
  2. if there isn’t an MLS #, make one up NEW289Elm (if address were 289 Elm)
  3. Be sure to send the DW Buyer Disclosure and WIRE FRAUD (super important with New Construction) ASAP (preferably before the contract/escrow)
  4. You may need exemptions for items , such as energy efficiency or earnest money receipt (if included in the contract) Or MLS sheet (if not on MLS).  Exemption Request is in the DW Custom Forms.
  5. Please advise your client to have a home inspection (though it may be at the end and do the final walk through with them.

 

Here is how to get an exemption request:

 

From time to time there is a legitimate reason for not having a required file. In these cases, we have an exemption request available to you in dotloop. Here is how to access it :

 

  1. add document
  2. templates
  3. go to Dalton Wade custom forms
  4. the exemption request should be near or at the top
  5. check the box and copy it to the loop
  6. fill it out. It is super easy with just two fields . No signatures required
  7. drag it and drop it on top of the required item or placeholder.
  8. This way when you submit it for review, the system will allow it and it will explain to us the reason that that requirement should be exempted.
Pay Attention to:

1. Inspection Instructions in Developer Contract (please recommend an inspection: often close to closing with special instructions for new builds) Read this section of the contract carefully.
2. Financing Contingency:   Read this section of the contract carefully.
3. In general: This is not the FAR/BAR contract that we are familiar with, client should read the contract carefully. 

Good luck and thank you for using Dalton Wade Support!