Definitions and property acquisition process
LLC – Limited Liability Company – a registered company in the US
EIN – Employer Identification Number – Company number in the US tax authority registry
ITIN – Individual Taxpayer Identification Number – An investor registration number in the US tax authority registry
Title Insurance – Insurance provided by the registration companies to ensure compensation in the event of a registration failure
Warranty Deed – Proof of ownership
HUD – Details of the transaction and payments of each party
Operating Agreement – the property management agreement
Property Acquisition Process:
Understanding the investor’s needs
Locating a suitable property
Making an offer to the seller
presentation of business plan to the investor
Performing a home inspection
The signing of the accompaniment agreement
Receiving closing documents – Title Commitment + HUD.
Transfer of funds to the Title Company
Property insurance obtained
County confirmation of transfer of property ownership from the seller to the investor
Transfer of funds to all relevant parties by the title company.
For a free consultation, please leave your details here and we will be happy to assist.