Realtors
Who is the List Agent?
This document is provided by the Seller's Lender to close our their current mortgage through the sale.
What is a Payoff Statement?
This is the term for the net amount of money received by the Seller on a sale.
What are the Proceeds?
This document shows how much the Realtors are getting paid on a transaction, along with the license numbers of the Brokerage and Agents.
What is a Commission Statement?
This must be conducted by the local Water Department when the property is on municipal water.
What is a final water reading?
This is the document that releases a mortgage once it is paid off.
This is the official name of the "Offer."
What is a "Contract to Purchase Real Estate"?
It is illegal to close on a home in Massachusetts without a passing one of these.
What is a Smoke/CO Detector Certificate?
This method of payment allows for the Seller to receive proceeds directly into their bank account.
What is a Wire Transfer?
This is the term used to describe the person/entity holding the deposits on a transaction. (Hint: it's usually the Listing Office).
Who is the Escrow Agent?
This document must be obtained when the property has a private septic system.
What is a passing Title V Report?
This is a tax form given to Sellers to report the sale of real estate when filing taxes.
What is a 1099-S?