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Revision as of 01:39, 4 January 2013 (edit) 68.235.38.112 (Talk) ← Previous diff		Current revision as of 05:08, 9 December 2017 (edit) (undo) 36.37.223.228 (Talk)
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-	The Tax Increase Prevention and Reconciliation Act of 2005 has ushered in new rules for negotiating tax debts with the IRS. This is actually the deal on the compromise methods.	+	What Is a Transaction Coordinator?
-	New Process of Deciding Tax Debts with the IRS	+	A Transaction Coordinator is a person who takes responsibility for managing the deadlines and tasks of a real estate contract to closing. Some of the duties include:
-	If you owe the us government back fees, there are two methods you usually takes to eliminate the problem. Whereby you consent to pay off your debt by making monthly premiums the foremost is to record a payment agreement. The 2nd is to try to settle the bill with a one time payment, which can be usually relatively low given your situation you'll not reasonably have the money to pay back the total bill. This policies and procedures linked to this second method have changed dramatically.	+	1. Responsible for processing of all contracts through closing.
-	The settlement process, often called an in compromise, experienced a huge change with the passage of the Tax Increase Prevention and Reconciliation Act of 2005. Beginning July 16, 2006, the brand new rules go into affect and they are a bear. The greatest issue is you now must pay 20 percent of one's offer total have the settlement offer considered!	+	2. Coordinating appointments for inspections, appraisals, and closing.
-	The following the process now works. You must file and make Form 656, to file an in compromise. This kind primarily sets out your resources, money, debt amount and the offer you are making given these results. You need to pay $150 when submitting the statement. You must also now pay 20 percent of one's present amount. Neither of the portions is refundable.	+	3. Effectively communicates with clients, customers, other agents, lenders, title agents and other service providers throughout the process.
-	It could take the IRS up to two years to have around to making the decision. If the agency accepts your offer, it'll send the conditions and you identification thereof. It keeps your deposit and employs you, if the company doesn't accept the offer. Welcome to the great world of taxes!	+	4. Responsible for proper documentation of the file to comply with brokerage policies.
-	You will find two conditions to the 20 per cent deposit principle. If you're a low income citizen under IRS rules, you will not need to make the deposit. Further, because you believe you're not fairly responsible for them and there's been a mistake if you are contesting the taxes due, you need not record the deposit. Bear in mind the main reason must certanly be fair, not just one of the reasons that nobody needs to actually pay taxes.	+	5. Assures that all post-closing disbursements, filing, and procedures take place.
-	The new procedures for filing for tax debt arrangement are odd given the new 20 percent deposit amount. However, this still represents the simplest way for working with tax obligations.	+	6. Frees the agent client up to focus on business building activities.
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		+	In many offices across the country, there are transaction coordinators on staff who are shared among the office. While this approach seems practical or beneficial on the surface because the coordinator is in house and can be accessed by stopping by her/his desk. It's not always the best or most effective approach when explored further. There are many reasons for that, a few are outlined here:
		+
		+	a. The transaction coordinator is paid by the office and has a job, which is not always exclusively coordinating transactions. Meaning, they could get pulled away from their job to help the other departments such as receptionist, listing coordinating or what have you. This means they aren't working on your transactions.
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		+	b. Interruptions! The facts are clear, it can take more than 20 minutes to get back on task after an interruption. That said, imagine how inefficient it can be if agents are walking in and out of the transactioncoordinators office all day long.

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Current revision as of 05:08, 9 December 2017

What Is a Transaction Coordinator?

A Transaction Coordinator is a person who takes responsibility for managing the deadlines and tasks of a real estate contract to closing. Some of the duties include:

1. Responsible for processing of all contracts through closing.

2. Coordinating appointments for inspections, appraisals, and closing.

3. Effectively communicates with clients, customers, other agents, lenders, title agents and other service providers throughout the process.

4. Responsible for proper documentation of the file to comply with brokerage policies.

5. Assures that all post-closing disbursements, filing, and procedures take place.

6. Frees the agent client up to focus on business building activities.

In many offices across the country, there are transaction coordinators on staff who are shared among the office. While this approach seems practical or beneficial on the surface because the coordinator is in house and can be accessed by stopping by her/his desk. It's not always the best or most effective approach when explored further. There are many reasons for that, a few are outlined here:

a. The transaction coordinator is paid by the office and has a job, which is not always exclusively coordinating transactions. Meaning, they could get pulled away from their job to help the other departments such as receptionist, listing coordinating or what have you. This means they aren't working on your transactions.

b. Interruptions! The facts are clear, it can take more than 20 minutes to get back on task after an interruption. That said, imagine how inefficient it can be if agents are walking in and out of the transactioncoordinators office all day long.