The duties of a closing agent are numerous. When a person sells his home, a closing agent helps him take care of all the loose ends and paperwork that are a part of the home-selling process. Without a closing agent, the seller would be tasked with having to take care of all the final details himself, which could prolong the sale of the home.
What is a Closing Agent?
A closing agent works for a real estate company. Her main job duties are to help the buyer and seller with with certain closing preparations, such as working with the buyer's lender, agent or escrow officer to work on the closing process. The closing agent is also responsible for coordinating the closing date and letting both the seller and the buyer know when the date will be. The closing agent has a multitude of duties.
Closing Agent's Duties
The closing agent is responsible for many final aspects of the home-selling process. This person has to make sure that both the buyers and the sellers have all the necessary information and paperwork needed. They must also help sort out title problems. The closing agent is also responsible for scheduling the final walk-through of the home for the buyer, in addition to doing research on HOA and tax prorations. This person must also work with the closing agent to obtain the final closing figures on the home sale and look over those numbers to make sure they are accurate.
Some other closing agent duties include going over all the documents involved in the home sale and checking for inaccuracies and errors, working with an attorney to review those documents, making sure that the agent working for the buyer has received a commitment for title insurance and making sure that a homeowners' warranty is available. The closing agent will also make sure that the home listing is removed from the transaction management program and change the status of the home to "sold" in the MLS system.
Who Needs a Closing Agent?
Closing agents are an important part of the home-selling process. Without them, the real estate agent would be responsible for taking care of all of the final preparations for selling the home. Because there are so many things that need to be done to finalize a home sale, the process could take much longer than it already does. Without the help, real estate agents would have to walk the buyer and seller through every step of selling a home.
- Photo Credit Jupiterimages/Comstock/Getty Images
How to Become a Real Estate Closing Agent
Once a person has found a property to purchase and the buyer and seller have agreed on a sale price, it's up...
Reservation Agent Duties & Responsibilities
There are many types of reservation agents: travel reservation agents, airline reservation agents and hotel reservation agents, among others. There is no...