Commercial real estate broker Atlanta

 Brokers Lien Waiver and acknowledgment of payment why they exist

The nature of doing business as a commercial real estate broker in Atlanta has its challenges. One of them is getting paid. Since this industry is a commission-only industry getting your payment can be difficult sometimes. And is generally not done add the end of a transaction. Sometimes it might take over 90 days or more to receive your commission payment. So if you’re looking for someone who will work hard for you not necessarily on your dime check us out. Here at The Office Advisors we almost never charge our buyers or tenants a commission fee. You can visit our website to learn more. www.theofficeadvisors.com 

 

 Furthermore, we are unlike her competition in many different aspects. Striving to provide the best service possible to you the customer. It doesn’t matter if you are a client on the other side of the transaction we will treat you the same. However, is important for us to fight for each one of our clients. Their needs come above all else when doing business. Even if you were on the opposite side of the table from us during the transaction you will see how we treat people. Many clients have come to us after working against us. That is because they like the way we work with the ease of communication.

 

 There are many different Services the office advisors offer. As a commercial real estate broker in Atlanta, we do have some billing issues that you need to be aware of. Some of these may include invoicing or paying it closed.  An attorney will divvy up funds at a closing table. When an asset is sold a commercial real estate broker in Atlanta is required to sign a document. This document is known as a broker’s Lien Waiver and acknowledgment of payment. What this means is that we are no longer holding a lean or Levied a payment against the client.

 

 Is it necessary to have this?

 Now, you might be asking if the closing attorney is giving the funds it should be all closed out. Why is there a question if we’re still holding a levy against the person who’s paid commissions? Well, when you think it is important to have this document for a variety of reasons. Some of them are right in there is some chance that another brokerage might come after them for payment later. Or the most common is an anime loan against the building is important in the underwriting to know this. If money is done it changes the status of the loan and possibly the ability of the individual to pay it.

 

 Sections of the broker Lien Waiver and acknowledgment document

 starting off there’s generally the basis saying terms and everyone understands that this is a contract in the name parties are on it. Generally, it is whoever is the person in charge at the firm. So as a commercial real estate broker in Atlanta, the head broker must sign this document. As the owner of the company or managing partner of it.

 

Acknowledgment of receipt

 What the section says is that  “Broker hereby acknowledge is the receipt in full of commissions, fees or other consideration due broker in connection with the management, sale, leasing or other conveyance or transfer of any interest in the property or otherwise for license broker Services relating to property.” Now, as you can tell that is a very long run-on sentence. Obviously written by an attorney. Even the Layman can understand that for whatever Services you rendered you have received your payment is all that says.

 

  what is a waiver?

 Now, this next section will explain what a waiver is and why it is important. But as you will understand I’m sure that it’s just saying we’re no longer going to come after you for the money. “ Broker does hereby wave, relinquish and release any and all rights, claims and liens which broker may now or Hereafter have in the property, including, without limitation, any rights, claims and liens of Brokers, or rights to file or have filed any liens, claims Orlean, pursuant of official code of Georgia.” 

 

 Moreover, all this does is go on and on. In a nutshell, you’re no longer going to come after the individual or company for any type of payment. As is typical in a contract there are a lot of legal Jargon and run-on sentences to explain this.

 

Who would be authorized to do this?

 Well as I’m sure you were aware attorneys have written this language in as well. The authorization can stem from an agent of the company. So not every commercial real estate broker in Atlanta is still getting paid on the deal. However, what it means is that someone who works for you has provided services and will be paid for them.

 

 The language goes as follows. “ Broker does hereby warrant and represent that the underside broker (or the individual executing this instrument on behalf of broker) has personal knowledge of the matters here and stated, and is authorized and fully qualified to execute this instrument as or on behalf of the undersigned.”  Trust us we know this is not a riveting thing to be focusing on. However, it is important when dealing in this industry.

 

  Relying on this document in who it pertains to

 lastly, as previously discussed it is important because who it pertains to the document. This could mean the seller or buyer. As well as the lending company attorneys or other Brokers working on the deal. So this legal document has to be notarized as well. Giving it more validity to the process and importance to the document.

 

 The Reliant structure is very easily and plainly worded. “ This instrument may be relied on by seller, purchaser, any lender providing a mortgage loan secured by the property, any Title Insurance Company insuring title or mortgage title to the above, it is given to induce the purchaser to purchase the property free and clear of any rights, claims, and liens of Broker.”  In layman’s term, no one in the office can hold anything against the property anymore. Is important to sell a property that is free and clear. Thus a commercial real estate broker in Atlanta uses this form at almost every single closing.

 

 Contact us

 if you’d like to learn more about working with the office advisors visit our website. We will assign an agent to you based on your needs. That is take the burdensome task of searching for commercial real estate off your shoulders. Don’t work with just any commercial real estate broker in Atlanta, work with the best.

 

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