Glossary

MLS Database

In the U.S. at least 95% of properties for sale is entered into a confidential database operators, (Real Estate Brokers) called the MLS, Multiple Listing Service. This service is directly related to public land and automatically provides the technical / land property (size, number of rooms, etc.) in addition to the historic register and other information to determine the commercial value.

Closing Agent

It 's almost always a lawyer or a Title Company performs the same functions of an Italian notary. It deals with, to carry out an overview hypo-land, to produce all documents concerning the sale and collect and distribute all sums of money involved in the transaction. The exact date of the deed, closing agent will calculate all expenses and credit rendiconterà amounts of money paid to those entitled to a summary document that (Closing statement).

CPA - Certified Public Accountant

CPA is the equivalent of our accountant, takes care of organizing the records provided by the customer and draw up a simple statement of redditidi if the property has produced income. For those who want the CPA will be a good 'in degree but also tax planning strategies and organize the corporate structure needed for investments more' complex.

Attorney at Law - Attorney

Act as consultant in various fields: tax, legal, immigration, etc.. Our company has lawyers who speak Italian, to facilitate its clients in understanding the whole buying process and to have a partner to which to refer to every need.

Mortgage Broker

The stockbroker is responsible for identifying and selecting among the various banks, mortgage loans on the best terms.

Property Manager

It manages the property, is responsible for coordinating routine maintenance and extraordinary caring relationships between the property and tenants. The management of the property is accounted for to the owner in an analytical and agreed deadlines.

Real Estate Agent or Realtor

The Realtor is a highly qualified professional who must support a state exam to obtain license. In the case of conduct inconsistent with the rules governing the profession's license is withdrawn.

Short Sale

This is a discounted sale scheme where instead 'take the road of bankruptcy defaulting vendors agree with the creditor bank to liquidate the property at a price inferirore the outstanding debt.

Real Estate Owned REO

Are the property referred to the bank and 'reimpossessata at the conclusion of bankruptcy proceedings against the debtor of the loan. These properties are often sold by banks following a price advantage but can be acquired only by submitting bids in cash and attached proof of availability 'of funds by the promisee buyer.

HUD-1 Closing Statement

It 's a summary document will guide where all the money on the transaction. Divided into two main columns, the seller and the buyer will reconcile all amounts to the exact date of the alleged deed including taxes and any other expenses.

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