Agent Procedures

If you have a pre-qualified Buyer who would like to participate in the Fresh Start Program, have them contact our office so we can discuss which debts they would like to have eliminated.

Here are the first steps after the initial contact:

  1. Together with the Buyer, Quantum Financial will prioritize and list what debts they want to have included in the Fresh Start Program.
  2. We will then email or fax you our "Payoff Agreement" document so you know in advance the amount of Seller concessions your Buyer requires when they submit their purchase offer.
  3. We will also email or fax you our "Fee Agreement" which needs to be given to the Seller along with your Purchase Offer as it contains additional terms of the Offer. The Agreement gets signed by both Quantum Financial and the Seller. The Seller must sign this agreement greeing to pay the fee to Quantum Financial in order for the Buyer's debts listed on the "Payoff Agreement" to be paid. A brief letter to the Seller regarding the Fresh Start Program will also be included.

What is the "Payoff Agreement" document?

The "Payoff Agreement" document lists the accounts and their corresponding balances your Buyer wants to have paid off through the Fresh Start Program. It is the agreement between Quantum Financial and the Buyer that provided the Seller has agreed to use Quantum Financial's services and has paid Quantum Financial's fee at the close of escrow, per the "Fee Agreement" Quantum Financial will issue payoff checks to the Buyer for the predetermined accounts within 3 business days from the close of escrow.

Depending on the Buyer, they may have 1 to 10 or more debts outstanding that they would like to have cleared. Part of our service is working with your Buyer to determine which debts if eliminated, would have the greatest impact on their finances thus making their new home mortgage more manageable. Additionally, we also know that it may not be practical to eliminate all debts where there are many or where the payoffs are quite high. This form will list what debts the Buyer has decided will make purchasing a home financially feasible for them.

When you are preparing the Purchase Offer, you can refer to the "Payoff Agreement" with your Buyer when deciding the details of the offer in order to make it as attractive as possible.

You are Ready to Submit the Offer!

Once you have your Purchase Offer complete, be sure to include the following when presenting it to the Seller or Seller's Agent:

  1. Seller Cover Letter
    This letter briefly explains to the Seller information about the Fresh Start Program and notifies the Seller that the Buyer is participating in this program which includes additional terms of the Purchase Offer submitted to them.
  2. Fee Agreement
    This form lists the services we are providing as well as the fee the Seller is being asked to pay on behalf of the Buyer for participation in the Fresh Start Program. This form gets submitted with the Purchase Offer and if the Seller agrees to the terms, is signed by the Seller. This agreement must be signed by the Seller in order for your Buyer to get their debts eliminated per the "Payoff Agreement".

Since the payment of the fee to Quantum Financial on behalf of the Buyer's participation in the Fresh Start Program is essentially a Seller concession being requested by the Buyer, the Seller may not agree to the initial amount requested. Therefore, this fee may need to be negotiated in addition to any other parts of the offer. If the fee changes, please notify our office and we will provide you with a new "Fee Agreement" and "Payoff Agreement" reflecting the new amount being requested and updated accounts to be paid off.