When does a transaction coordination workfile get created?
Download MarkdownAutomatically. One workfile is created per property, the moment the deal exists (and by the time it is under contract), so coordination never depends on someone remembering to spin one up. You never create it by hand.
Automatically. One workfile is created per property, the moment the deal exists (and by the time it is under contract), so coordination never depends on someone remembering to spin one up. You never create it by hand.
It appears on the Work Files tab in the Transactions surface (https://app.closemagnet.com/transactions), sorted with active files first and then by closing date, carrying checklist and at-risk badges. Open it to work the Checklist, Overview, Title and Escrow, Parties, Documents, and Comm Log panels; a flip file adds a Fix and Flip panel. Access is gated per member, so a teammate who is not permitted to work transactions cannot open or change a workfile.
Links to the app require your CloseMagnet login.
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- What date should I enter first on a workfile?The ratification date, on the workfile's Overview tab. The deadline engine uses it to compute most task due dates, so setting it correctly puts the whole schedule on the right timeline.
- Why are there two earnest-money deposits on a deal?Because a wholesale or double-close deal has two: the seller-side EMD you put up, and the buyer-side EMD your buyer puts up to you. Losing track of either is a common way deals fall apart.
- How do external emails to sellers and buyers get sent from a workfile?Never automatically. You trigger a one-click template, then a compose-before-send modal shows you the exact email with merge fields resolved, an editable subject and body, a fixed recipient, and a wire-fraud warning footer that is
- Does the AI contract audit change my contract data?No. The AI contract audit only fills fields that are still empty and flags mismatches for your review. It never overwrites a value you already entered.