If the seller’s coverage is expiring prior to the closing date, it must be extended. Use the closing date as an extension date. (see Seller Extension module for further instructions)
1. Obtain and write down the property address and conduct a search prior to processing the conversion in order to prevent duplicate enrollments.
2. Verify the seller’s name(s)
3. From the Menu Options tab, select Buyer Conversion
4. Obtain the closing date.
5. Obtain the buyer’s name, best contact telephone number, alternate telephone number and email address.
6. If applicable, retrieve additional contract holder’s information.
7. Verify if there is an alternate mailing and/or billing.
8. Click Save.
9. Offer Buyer options (ex. Pool, Spa, etc.), and additions (ex. A/C, Toilet, etc.), when available per the state matrix.
· Click on the Option tab, to add additional items, such as, refrigerator, water heater, etc. for the buyer.
· Save
10. Ask the agent their if they prefer the invoice to be emailed or faxed. (email is the preferred method)
Buyer Conversion CAN NOT be cancelled the 1st year.
1. Click on the Visifax icon
2. Select the desired Source to send fax
3. When applicable, click on the Add icon to add a new fax number.
4. Click Yes on the pop up that appears
5. Ask if there are any other parties (i.e. Title Company) that might need a confirmation invoice.
6. Select the Cover Page and Optional Page radio buttons and click Send Fax.
If a fax number is not available, fax the invoice to the Enrollment Membership Services fax number (1-800-468-7307) and mail the VSI-Fax invoice to the agent.
7. Advise the agent that the confirmation will be sent shortly.
8. Provide the following to the agent:
· The application number
· The price of the warranty
· The effective date of coverage (seller warranty is effective the day we receive the application).
9. Document the transaction at the communication log.
1. From the TIMX Navigation window, click on the Email Confirmation Invoice
2. Enter the Contract Number, Renewal Year and the Purchase Type.
3. Enter the recipient's name in the Email Recipient field and the email address in the appropriate field.
4. Click Run Report
Procuring agent – The agent that asked for the warranty is the procuring agent. If the warranty is being ordered at the time of listing, the listing agent is the procuring agent. If the warranty is being ordered at the time of closing, the buyer’s agent is the procuring agent. This is regardless of who is paying for the warranty.
Buyer’s agent calls in to add SHW until closing - The buyer’s agent cannot call in a warranty to include the seller during the listing period (unless they represent the seller in addition to the buyer). Also, the closing has to be more than 30 days away. If it is less than 30 days, it needs to be entered as a BDW only.
The agent can enroll, convert and renew on-line.