The Deal Room: Your Complete Transaction Hub

What is a Deal Room?

A Deal Room is a secure, centralized workspace where buyers, sellers, and agents collaborate throughout the entire property transaction process.

Think of it as a digital command center that replaces email chains, paper contracts, and manual tracking with an organized, automated system.

How Deal Rooms Are Created

A Deal Room is automatically created when:

• A buyer submits a formal offer on a property
• A seller accepts preliminary interest from a buyer
• An agent initiates a transaction between parties

Both parties receive instant notifications and can access the Deal Room from their dashboard.

Offer Management

The Deal Room tracks all offers with complete history:

• Make offers - Include price, contingencies, closing date, and conditions
• Counter-offers - Negotiate back and forth with full transparency
• Contingencies - Track financing, inspection, and appraisal requirements
• Expiration dates - Set deadlines for offer acceptance

When an offer is accepted, the Deal Room status automatically updates to "Under Contract" and generates standard milestones.

Document Vault

Upload and manage all transaction documents in one secure location:

• Purchase agreements and contracts
• Disclosure documents
• Inspection reports
• Financing and pre-approval letters
• Insurance policies
• Legal documents

Each document has a status (pending, uploaded, reviewed, approved) and permission controls to determine who can view it.

Milestones & Timeline

The Deal Room automatically creates standard milestones:

• Purchase Agreement - Draft and sign the contract
• Home Inspection - Schedule and complete inspection
• Secure Financing - Finalize mortgage approval
• Closing - Final walkthrough and transfer

Each milestone has requirements, due dates, and can be assigned to specific participants. The progress bar shows completion percentage.

E-Signatures

Sign contracts digitally without printing or scanning:

• Upload a document that requires signatures
• Mark signature fields for each party
• Send signature requests
• Parties receive email notifications
• Signed documents are automatically stored in the vault

Escrow Deposits

PlaceBuy integrates with Stripe to handle earnest money deposits securely:

• Buyer submits deposit through Stripe Checkout
• Funds are held in escrow until closing
• Automatic release upon successful closing
• Dispute protection and refund management

Communication Hub

All deal-related communication stays in one place:

• Real-time messaging with all parties
• AI-suggested quick replies for common questions
• Notes and reminders
• Activity log tracking all actions

No more searching through emails or text messages - everything is organized and searchable.

Best Practices

• Upload documents as soon as they're available to keep the deal moving
• Update milestone statuses regularly so all parties know progress
• Use reminders for important deadlines like inspection periods
• Add all relevant parties (attorneys, inspectors, lenders) to improve coordination
• Review the activity log to track who did what and when