Posts Tagged: Closing

Who are the Different Parties at a House Closing?

On closing day there are different parties who are present. If you are a buyer, then you pay the price of the house and the seller will hand over the keys of the house to you and any further signing formalities will be taken care by the agents.

However, if you have never been at a house closing, then you may not be aware of the different parties present on that day. So, if you are planning to attend Clostinga house closing, keep in mind the following parties and why they appear at the closing day:

Closing Agent

The agent who might work for the Title Company or lender.

Attorney

The closing agent may also be the Attorney who is either representing you or the lender. However, it is always a good idea to have an attorney with you.

Title Company

This is the seller who is going to sell the property and is responsible to provide the evidence for the ownership of the house.

Seller’s Agent

Seller’s real estate agent who will take care the documenting and signing formality and will make sure that his client get the money he was supposed to get. This could also be a wholesaler (http://www.fasttacomahousebuyers.com), someone who is holding a contract of a home and is selling it on behalf of the seller.

Buyer’s Agent

Like seller’s agent, buyer will also have a real estate agent who will make sure that his client gets the ownership of the property.

The main person at house closing is a closing agent. A Closing agent makes sure that both parties get what they agreed upon. And is also responsible for completing the documents signed by both parties.

Conclusion

Either you are a buyer or a seller, house closing is an important day for you, so you should know all the ins and outs of it. I hope that after reading this guide, you will be able to understand the different parties present at house closing and what are their responsibilities.