What is a Closing Agent?
A closing agent is a person or business that is charged with the coordination of a variety of activities necessary for completing the sale of a house or other type of real-estate property. It is the job of the closing agent to ensure that all documents and records are completed properly. He or she also makes sure the related funds are properly disbursed. Essentially, a closing agent acts as a custodian, a service that can only be performed by a neutral party. A closing agent doesn’t work for the buyer, seller, real-estate agent, or lender. Instead, he handles paperwork and activities required for each party to a real-estate sale/purchase. For example, a closing agent request copies of such documents as the sale contract and termite inspection from the involved real-estate agent. Depending on the unique details of the loan/sale, he may also request attorney information and home-warranty documentation. The closing agent also secures documentation from the lender, requesting the complete
A. The person, usually from a title or escrow company, who is coordinating the assembly of the documents, disbursement of funds, and other duties associated with closing a loan. Although the closing agent may also be a Notary, he or she will often locate a suitable signing agent. Even though that time when everyone is sitting down to sign papers is often referred to as a “closing,” this signing is really only a portion of the closing process.
• Closing agents can be the lender, escrow, title company, closing service, etc. A closing agent actually performs the closing process which includes disbursement of funds, the issuing of title insurance, if applicable and recording of the deed. In addition, the closing agent, if a notary, can also notarize the applicable documents in the loan package. With the expansion of lenders requirements across the nation, the need for a “mobile notary or signing agent” was developed.
