1. Objective

This SOP defines how a Virtual Assistant (VA) tracks every contingency deadline in the transaction, prepares removal forms in advance, delivers them to the listing agent on or before deadline, and manages any extensions or cancellations — so no contingency expires without intentional action.

Key principle from course: "Once contingencies are removed, the buyer's earnest money deposit is typically at risk if they fail to close."

Why deadlines are so dangerous: If the contingency expires without action, the buyer may lose the right to cancel the contract and their earnest money may be at risk. This can lead to a lawsuit.

The VA's job is to treat every contingency deadline as an absolute — not a soft target, not something to be reminded about by the agent. The deadline is in the file. The VA owns it.

Where this SOP starts: Executed contract received — all contingency deadlines extracted on Day 0.
Where this SOP ends: Every contingency in the transaction is formally resolved — either removed in writing, extended, or addressed through cancellation.

Success looks like: Every contingency removal form is prepared and with the agent at least 24 hours before the deadline — not the morning of.

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2. Your Role & Boundaries

2a. What you handle independently

• Extracting every contingency deadline from the executed contract on Day 0 and adding them to the transaction timeline
• Running a daily check on the number of days remaining for each active contingency
• Preparing contingency removal forms 24 hours before each deadline
• Sending the removal form to the agent with a specific deadline reminder
• Delivering signed removal forms to the listing agent on or before the deadline
• Confirming delivery and saving the signed removal to the transaction file
• Preparing extension addenda at the agent's direction (before the original deadline passes)
• Preparing cancellation documentation at the agent's direction

2b. What requires agent approval before acting

• Every contingency removal — the agent signs and authorizes before the VA delivers to the listing agent
• Any decision to extend a contingency — the agent negotiates this, not the VA
• Any decision to cancel the contract — the agent makes this call after consulting the buyer
• Any communication with the listing agent about the contingency status beyond standard delivery and confirmation

2c. What you never do

• You never negotiate on the agent's behalf under any circumstances.
• You never provide pricing, legal, or strategic opinions to any party.
• You never sign or initial any document on behalf of the agent, client, or any party.
• You never communicate directly with the other party's client.
• You never wait until the deadline day to prepare the contingency removal form — 24 hours in advance is the minimum.
• You never assume a contingency has been resolved because work is done (e.g., the inspection is complete, the appraisal came in at value) — formal written removal is required.
• You never allow a contingency to expire without the agent being aware and having made a decision.
• You never remove a contingency without the agent's signed authorization — even if you believe the contingency has been satisfied.

When in doubt: Prepare the removal form early, send to the agent with the deadline clearly stated, and follow up if you don't receive a signed version with time to spare. A missed contingency deadline is one of the highest-liability failures in transaction coordination.

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3. Schedule & Trigger

Trigger: Executed contract received — extract all contingency deadlines on Day 0.

Recurring: Daily review of all active contingency deadlines from Day 0 through the last contingency removal.

Time-sensitive: Once any contingency deadline is within 24 hours, it is urgent and the VA should be in direct contact with the agent confirming the signed removal is in hand.

Sequence context: This SOP is active from Day 0 through the escrow period. Each contingency type feeds from its primary SOP:
- Inspection contingency → Inspection Scheduling & Report Management
- Appraisal contingency → Appraisal Coordination & Support Packet
- Loan contingency → Lender Communication & Loan Monitoring
- HOA document review contingency → HOA Document Review & Management

When all contingencies are removed, the transaction proceeds to Settlement Statement Review and closing.

If you are unable to complete this task: Notify the agent at the start of your absence or as soon as possible. Flag any open or time-sensitive items. The agent will determine whether to delegate or defer. Never let a recurring deadline pass without flagging it to the agent in advance.

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4. Contingency Types and Source SOPs

Contingency	Typical Period	Source SOP	What Must Happen Before Removal
Inspection	7–14 calendar days	Inspection Scheduling & Report Management	Inspection complete, report reviewed, agent and buyer have decided to proceed (or repair agreement in place)
Appraisal	17–21 calendar days	Appraisal Coordination & Support Packet	Appraisal report at or above purchase price, or buyer has accepted any gap
Loan / financing	17–21 calendar days	Lender Communication & Loan Monitoring	Clear-to-close received, or agent confirms loan approval is sufficient to remove
HOA document review	Varies — often 3–10 days after receipt	HOA Document Review & Management	Buyer has reviewed documents and decided to proceed
Sale of buyer's home	Per contract — varies significantly	Agent manages	Buyer's home is under contract or sold — agent confirms before removal

Confirm the exact day count for each contingency from the contract — do not use typical ranges as the actual deadline.

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5. Day 0: Contingency Deadline Extraction

On the day the executed contract is received:

1. Read the contract's contingency sections and extract every deadline
2. Record each deadline in the transaction timeline:
   - Contingency name
   - Start date (typically execution date or date of document receipt for HOA)
   - Deadline (calculated in calendar days — not business days unless the contract specifies otherwise)
   - Removal form required
3. Add a pre-deadline reminder in the transaction management system or calendar for each contingency: fire 48 hours before deadline (not 24 — give yourself a buffer)

Calendar day calculation note: Count the day after contract execution as Day 1 (not the execution day itself). For example, a 10-day inspection contingency on a contract executed April 20 expires at the end of April 30 (Day 10). Confirm the contract language — some contracts start counting on the execution date.

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6. Daily Deadline Monitoring

Every business day, check the transaction timeline and note the days remaining for each active contingency.

This does not have to be a formal report — a quick scan of the timeline each morning and a mental note of what's coming up is sufficient. But if any contingency has 3 days or fewer remaining and the removal has not been initiated, treat it as urgent.

48-hour mark: Prepare the contingency removal form.
24-hour mark: Removal form should be with the agent, signed, and ready to deliver.
Same day: Deliver to listing agent.

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7. Removal Preparation Protocol

24 hours before each deadline:

1. Prepare the contingency removal form for this specific contingency
   - Use the state-appropriate form — confirm which form the agent uses during onboarding
   - Fill in: property address, buyer name(s), contingency type, removal date

2. Send to the agent for signature with a clear subject line and deadline call-out:

Subject: ACTION REQUIRED — [Contingency Type] Removal Due Tomorrow — [Address]

Hi [Agent Name] — the [inspection / appraisal / loan / HOA] contingency for [Address] is due tomorrow, [date].

Contingency removal form attached. Please sign and return so I can deliver to the listing agent before the deadline.

[VA Name]

3. Do not wait for the agent to ask for it — send it proactively.

If you don't receive a signed form within 4 hours of sending:
Follow up via the agent's urgent channel. This is a deadline — urgency is appropriate.

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8. Delivery Confirmation

After the agent signs and returns the removal form:

1. Deliver to the listing agent via the confirmed delivery method (email is standard)
2. Request confirmation of receipt
3. Log the delivery: date, time, method, listing agent
4. Save the signed removal form to the transaction file:

[Address] - [Contingency Type] Removal - [Date]

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9. If a Contingency is Extended

If the agent needs more time — inspection takes longer than expected, appraisal is delayed, loan is still processing:

1. The agent requests an extension from the listing agent — this is a negotiated agreement, not a unilateral decision
2. Prepare the extension addendum per the agent's instruction (new deadline, contingency type, property address)
3. Route for all party signatures before the original deadline passes
4. Save the executed extension to the transaction file
5. Update the transaction timeline with the new deadline

A contingency that expires before an extension is signed is a missed deadline. Do not assume the listing agent's verbal "that's fine" is enough — get it in writing and signed.

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10. If a Buyer is Canceling During a Contingency Period

If the buyer decides not to proceed before removing a contingency:

• The agent handles all communication with the buyer and listing agent about the cancellation
• The VA prepares the cancellation documentation (cancellation addendum, EMD release instructions) at the agent's direction
• Do not contact the listing agent or any other party about the cancellation without agent instruction
• Do not assume cancellation is automatic — it must be documented in writing

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11. Checklist

Day 0 — Contingency Setup
- ☐ All contingency types identified from executed contract
- ☐ Each deadline calculated in calendar days from execution (or document receipt for HOA)
- ☐ All deadlines added to transaction timeline
- ☐ 48-hour pre-deadline reminders set for each contingency

Daily Monitoring
- ☐ Transaction timeline reviewed each business day
- ☐ Any contingency within 3 days flagged as urgent

Per Contingency — Removal
- ☐ Removal form prepared at 24-hour mark
- ☐ Sent to agent with deadline call-out
- ☐ Agent signed form received
- ☐ Delivered to listing agent on or before deadline
- ☐ Delivery confirmation received
- ☐ Signed removal form saved to transaction file
- ☐ Transaction timeline updated

Extension (if applicable)
- ☐ Extension addendum prepared per agent instruction
- ☐ All parties signed before original deadline
- ☐ New deadline updated in transaction timeline

Cancellation (if applicable)
- ☐ Cancellation documentation prepared per agent instruction
- ☐ All forms executed and filed

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12. Tools & Access

Item	Details
Contingency removal form	[Confirm state-specific form during onboarding]
Extension addendum	[Confirm state-specific form during onboarding]
Cancellation form	[Confirm state-specific form during onboarding]
Transaction timeline	[TMS or Google Drive — primary tracking tool for all deadlines]
Listing agent contact	[From MLS / executed contract — for delivery and confirmation]
Agent's urgent channel	[For deadline escalations — confirm at onboarding]