Distinguish interest from commitment
Saving a property or requesting more information records interest. It should not silently become an instruction, reservation or payment commitment. Record each one separately so the next step remains clear.
Agree responsibilities in writing
The investor, introducing party and coordinating firm should understand their respective roles. Written terms need to settle the relevant commercial arrangements before the parties rely on them. L&M has not agreed terms for any partner arrangement.
Resolve the outstanding evidence
Checks and professional advice depend on the actual property and parties. A workflow label does not certify a transaction. Record what has been reviewed, by whom and what remains unresolved.
Track milestones accurately
An introduction, an accepted offer, exchange and completion are different events. An invoice is different from a payment receipt. A useful record gives each event its own dated entry rather than collapsing them into a single success label.
Put it into practice
A milestone record
Each event gets its own dated line. None of them stands in for another.
| Event | What it records |
|---|---|
| Interest recorded | Someone asked to see more. No commitment. |
| Information requested | What was asked for, and by whom. |
| Introduction made | Who was introduced, under which written terms. |
| Offer accepted | Subject to contract, with the date. |
| Exchange | Contracts exchanged, with the date. |
| Completion | The transaction completed, with the date. |
| Invoice issued | An invoice is not a payment. |
| Payment received | Recorded only when it arrives. |
Invented example. Adapt it to your own situation.
This is a practical preparation guide. Decisions about a particular property should be made with relevant qualified advisers and current information.