Buying a home is one of the most important decisions you’ll ever make. Not only does it impact your personal life, but it also does the same to your finances.
From start to finish, the buyer and the seller must be on the same page. This ensures that they’re working together with the idea of closing the deal in a timely manner.
While a successful closing sounds easy enough, there’s a lot of work that goes into the process. Here are a few things that happen at closing:
- A variety of paperwork is signed by both parties
- Money changes hands
- Title changes hands
In addition to the buyer and seller, there are several other people present at the closing. This includes but is not always limited to:
- Closing agent
- Lender representative
- Real estate agent (or agents)
What Does a Closing Agent Do?
A closing agent, also known as a closing title agent, is responsible for a variety of tasks during the process.
Note: the closing agent starts their work well in advance of the day of the closing.
One of the primary responsibilities of the closing agent is to conduct title research as to ensure that there are no issues that could prohibit the transfer of the title. Any issues that come to light are flagged and discussed with the buyer and seller. It’s then up to the parties involved to settle on a resolution.
A closing agent also reviews all documents – such as contracts – associated with the sale of the property. They check for consistency, accuracy, and any missing details.
Finally, on the day of the closing, the agent brings all necessary documentation for signing. They’re also responsible for collecting and distributing funds, which can include but is not necessarily limited to down payments, escrow deposits, and any fees associated with the transaction.
If you’re interested in finding a closing agent in Naples to assist with your transaction, don’t hesitate to contact us.