Transaction Statuses in Paperless Pipeline (processor view)

Transaction status tell you where in the process the transaction currently is. All files in Paperless Pipeline are kept up-to-date with the current status of the transaction. This guide defines each status you will see in Paperless Pipeline.

Active – this status means there is an active agency agreement for the listing of a property and/or a potential buyer client(s). The expiration/termination date is located on page 1 of the agency agreement. This date needs to be added to the Paperless Pipeline file for tracking purposes. The processors withdraw expired active buyer/tenant agreement manually by checking the overdue tasks tab in Paperless Pipeline.  Listing files will expire automatically if the expiration date is added within the transaction file.

Pending – this status means there is a ratified sales contract or lease on the property. The transaction will be in pending status until the property goes to settlement.

Have Funds, Cannot Pay – this status means the commission funds have been received but we cannot close out the file/ process the agent’s payment due to specific missing documents  that are needed (i.e., cover sheet/settlement statement). Processors follow up on HFCP files daily. If the file is incomplete, but we have received a copy of the fully executed settlement statement and coversheet, then the processor will update the file status to “Ready to Pay”. The Commissions team will close out the file and change the status to “Closed but Not Paid”  until the file is complete.

When can I mark a file “Have Funds, Cannot Pay”? When the commission has been received, but:

• Missing any of the following documents:
  • Coversheet, Primary Residence or Investment Property Submission Form (if applicable), Accounting Sheet or Referral Agreement (if applicable), Settlement Statement
• There is a commission discrepancy waiting to be corrected

Ready to Pay–  this status means the file has enough paperwork for the commissions team to process the agent’s payment. Select this status when the coversheet and settlement statement have been obtained (we can pre-process files before the commission funds are even received!)

When can I mark a file “Ready to Pay”?

• When the property went to closing, the settlement statement (signed by both parties) and Sale/Listing coversheet have been received. Other documents can be missing, the commissions team will process file, and then change status to “Closed, But Not Paid” for the processors to follow up with the agent(s) for remaining documents needed to complete file before disbursing agent’s payment.

Closed but Not Paid – this status means the commissions team processed the transaction but holding agent payment for remaining transaction documents that are required under the state law and/or by C21 Redwood. Transactions under this status are listed under the “Problem Files- Closed but Holding Pay” tab on the processing/commissions spreadsheet. The processing team follows up on the Problem files list daily (i.e., follow up emails to agent for missing paperwork and/or notifying agent if we are waiting on commission funds from the title company). When the remaining documents have been obtained, send an e-mail notifying the commissions team that the file is complete and ready to disburse agent commission funds and enter Yes on column F on the “Problem Files- Closed but Holding Pay” tab.

Closed – this status means the transaction file is complete and has been closed out in all Redwood systems and agent’s commission was disbursed

Expired/Withdrawn- this status means the file is expired due to the agency agreement termination date or if the listing agent has withdrawn the listing

Cancelled – this status means the sales contract has been voided. Both parties (seller/buyer) must sign an agreement to terminate the contract (i.e., Release of Sales Contract and Deposit). If Redwood is holding the escrow deposit, we must e-mail our agent using the “Cancellation with EMD Refund” template in Paperless to confirm how the client would like us to refund the escrow. We also need to follow the steps of the EMD refund checklist that will be assigned to the property once the status is changed to cancelled.