Transaction checklists provide a systematic way to track the progress of a transaction and are helpful to everyone involved: realtor, inspector, title company, closing attorney, TC and client alike.
What is a deal sheet in real estate?
The deal sheet itself is a non-binding summary of all the terms of a real estate transaction, such as the price, contingencies and the amount of financing.
What are the four stages of a real estate transaction?
The first stage is pre-entry into a contract, and the second stage is the actual signing of the contract. The third stage involves working through the details of the transaction after the contract is in place, and the fourth is closing and post closing.
What is a transaction file in real estate?
There are some key things to remember when handling documents as a real estate agent. Transaction files include all the records pertaining to your business, including sales, closings, expired listings, and potential business. It’s necessary to keep all records for the required time, often five years or longer.
What is a transaction checklist? – Related Questions
How long do estate agents have to keep files?
The Property Ombudsman (TPO) has published Codes of Practice which stipulate that, by law, estate agents must maintain clear and full written records of transactions for a period of six years.
How long must transaction records be maintained by an independent broker?
Independent brokers and employing brokers must retain transaction records from their brokerage activities for four years.
What is transaction file example?
The data normally stored in journals in a traditional accounting system are examples of transaction files. They contain the activity data used to update the running balance listed in the subsidiary and general ledger master files. Batches of source documents are also examples of transaction files.
What’s a transaction file?
A transaction file is used to hold data during transaction processing. The file is later used to update the master file and audit daily, weekly or monthly transactions. For example in a busy supermarket, daily sales are recorded on a transaction file and later used to update the stock file.
What’s the difference between master file and transaction file?
MASTER FILES CONTAIN EVENT OR ACTIVITY DATA after THEIR BALANCES ARE UPDATED BY THIS DATA. (When looking at the Systems flowchart on the test ask yourself first: WHERE’S THE MASTER FILE, WHERE’S THE TRANSACTION or ACTIVITY file?) TRANSACTION OR ACTIVITY FILES (TEMPORARY) – DESIGNED TO CAPTURE TRANSACTION OR EVENT DATA.
Why have a separate master file and transaction file?
Maintaining separate master and transaction file records allows the master file to be kept at a manageable size and dedicated to entity specific entries only. In applications in which users store transaction records off-site or on archive servers, separating them from the master file also makes archiving a lot easier.
What are the 4 types of processing?
Data processing modes or computing modes are classifications of different types of computer processing.
- Interactive computing or Interactive processing, historically introduced as Time-sharing.
- Transaction processing.
- Batch processing.
- Real-time processing.
What are the four types of files?
5 types of document files
- Portable document format (PDF) A PDF file is a common file type in many work environments.
- Word document (DOC and DOCX)
- Hypertext markup language (HTML and HTM)
- Microsoft excel spreadsheet file (XLS and XLSX)
- Text file (TXT)
What are the 4 types of file formats?
6 Different Types of Files and How to Use Them
- JPEG (Joint Photographic Experts Group)
- PNG (Portable Network Graphics)
- GIF (Graphics Interchange Format)
- PDF (Portable Document Format)
- SVG (Scalable Vector Graphics)
- MP4 (Moving Picture Experts Group)
What is the most common file type?
In summary, the most common document file extensions are:
- DOC and DOCX.
- HTML and . HTM.
- ODT.
- PDF.
- XLS and XLSX.
- ODS.
- PPT and . PPTX.
- TXT.
What are the 3 types of filing systems?
Filing in Alphabetical order. Filing by Numbers/Numerical order. Filing by Places/Geographical order.
Which file format should I use?
Best file types for these general purposes:
| Photographic Images |
|---|
| For Unquestionable Best Image Quality | TIF LZW or PNG (lossless compression, and no JPG artifacts) |
| Smallest File Size | JPG with a higher Quality factor can be both small and decent quality. |
| Maximum Compatibility: Windows, Mac, Unix | TIF or JPG |
What is PNG used for?
The PNG file format is widely used on websites to display high-quality digital images. Created to exceed the performance of GIF files, PNGs offer not just lossless compression, but also a much broader and brighter color palette.
What do PNG mean?
PNG stands for “Portable Graphics Format”. It is the most frequently used uncompressed raster image format on the internet. This lossless data compression format was created to replace the Graphics Interchange Format (GIF). PNG file format is an open format with no copyright limitations.
What is PNG good for?
What is a PNG file? Portable Network Graphics files (PNGs) are compressible and like JPEGS, can handle 16 million colors. They’re mostly used for web graphics, logos, charts, and illustrations, rather than high-quality photographs, because they take up more storage space than JPEGs.
What are the disadvantages of a PNG?
PNG: Portable Network Graphics
The colour spectrum covers up to 16 million colours, which is significantly more than a GIF. However, this image format is not suitable for printing because PNGs do not support the CMYK colour model.