Agent: A licensed professional representing property owners that wish to sell or individuals looking to purchase real estate. Agent fees involve commission based on a percentage of the property in question. Agents are needed to look for, buy, purchase, and sometimes rent property.
Broker: A broker is basically an agent or "listing brokers" or "listing agents," hired by property owners to help market real estate in return for commission from the sale, purchase of real estate.
Closure: There are several important aspects concerning the Closing of a Real Estate transaction. Perazzo Law knows that the end result is to get the money in the bank, either through a check or wire transfer. The closing represents the moment the property transaction is completed by signing the final contract which continues the terms of the purchase, transfer, or sale of the property in question. At the closing, the seller signs over the deed. This will most often require a Notary to oversee the signing to verify signature legitimacy. Also, the closing is when the seller presents the buyer with the keys to the property being sold. The closing is also when any corresponding taxes, fees to lawyers, brokers, agents, etc are paid.
Deed: The official legal document that states that an individual, entity, etc., owns property. A deed is needed to sell or transfer ownership to another individual or organization. The Title is not the same thing as the Deed. (see Title)
Deed of trust: A form of real estate security agreement that provides security interest in real estate which usually includes power of sale that grants a trustee quick non-judicial sale over a judicial foreclosure.
Foreclosure: The legal process by which a lender tries to recover the amount a loan due from the party that borrowed an amount no longer being paid. Foreclosure includes selling the property to payback the remainder of the unpaid loan or mortgage.
Alternatives to Foreclosure:
There are many alternatives to foreclosure that our attorneys can assist you with, including a short sale or a modification to make sure that all of the resources that you need to assist you with a short sale are here at our firm -- you will not need to go to several professionals to "piece together" a team to assist you. If you need a knowledgeable, trusted realtor who knows the market and the short sale process, we work closely with those who can make sure your needs are met. It is critical that every aspect is covered and considered in advance to provide our clients with the best success opportunities. In Miami, the Perazzo Law Firm Real Estate staff is dedicated to guaranteeing a thorough transaction process that is protected by law.