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Transferring Info

Erica Muller Orlando, FL

November 14, 2018

The safest and easiest way to transfer data is to create a file with all of your spreadsheet, logins, images URLS etc. and put it all in a Dropbox folder. A neutral trusted party in the real estate transaction must have the permission and responsibility to release this information upon closing. An agent or broker is the easiest person to use for this as they are already involved in the transaction. Sending the buyer a letter from the brokerage confirming they have the Dropbox file with all of the items requested in it can often be sufficient for the buyer. Upon the closing taking place the broker or agent must release the file to the buyer's agent or the buyer's directly.

Many buyers are concerned the seller will not supply the data after closing so this is one common way for the buyer to confirm all documents are collected and be ensured they will receive them at closing.

Kindest Regards,

Erica Muller
Founder, CEO

Comments

Valerie V. Anaheim, CA

Dec 06 2018, 06:31 AM

Another part is to provide copies of the actual reservation agreements in place. A part of the transaction is to decide how the rents and deposits will be transferred to the new buyer. It can be transferred to the new Buyer through the escrow/closing process. Another way is to have the exact dollar amount to be transferred verified between the parties prior to closing. Then the Seller would give the Buyer a separate check at the closing. This process would be slightly different if the property is managed by a professional manager, in which case the money also would need to be transferred to the manager's trust account.

Matt M. , CA

Feb 05 2019, 04:38 PM

In LA this is done through the purchase of a corporation. Generally speaking the property and business would be owned through one or more corporations so negotiations would include all the business IP and assets which would be the social media and website account profiles. Since attorneys handle the entire transaction making sure that you have a top notch attorney that you pay for is crucial! Also put it in writing, make it clear what will be transferred, when and how.

Matt Malouf

Author-Adventurepreneur

Jorge M. Orlando, FL

Dec 06 2018, 06:19 PM

Erica M. Orlando, FL

Jan 25 2019, 10:08 PM

Thanks Valerie!! That's awesome info!

Kindest Regards,

Erica Muller
Vrolio, Founder & CEO

"Buy land, they’re not making it anymore.” - Mark Twain