A closing agent is one professional in the sales process who you probably won’t speak to until well into closing. While you work with your real estate agent in downtown San Diego to schedule property inspections and get your financing lined up, this person will be busy taking care of business behind the scenes by calculating property taxes and other pro rata expenses, performing a title search, and communicating with your lender. A closing agent will also take care of any special instructions that have been included in your purchase agreement. In many ways, this professional works to ensure that everything flows as smoothly as possible for all parties involved.
Who Does the Closing Agent Work For?
The closing agent can be seen as a neutral third-party, given that this individual will have everyone’s best interests in mind. The primary goal of the closing agent is to ensure that the entire transaction is conducted in a wholly legal fashion. In fact, some states even use actually attorneys for this job, given their comprehensive knowledge of property law.
What to Expect from the Closing Agent
In addition to running the title report on the property, the closing agent will also arrange to have a title insurance policy issued on your behalf. This professional will prorate all costs including your loan interest, property taxes, and insurance premiums. You should make sure to review these expenses once they’ve been written out by the closing agent in order to ensure that no miscalculations have been made.
The closing agent in your sale will also facilitate the collection and coordination of all sales-related paperwork such as the necessary disclosures and financing documents. He or she will additionally handle the establishment of all escrow accounts, the transfer and recording of the property deed and the transfer of your payment or payments to the property seller. If you’re working with an attorney throughout the sale, these two parties will remain in contact during each step of closing.
Getting to Know Your Closing Agent
It never hurts to introduce yourself to the closing agent in your sale well ahead of closing day. Establishing a good rapport and making sure that all of your contact information is up to date is a great way to ensure that any potential problems can be discussed and resolved as quickly as possible. Make sure that this professional has your mobile phone and landline numbers, your email address, and the physical mailing address that you’re currently using.
Still shopping for condos or lofts for sale in downtown San Diego? Work with an experienced real estate agent who can walk you through the process from start to finish. Check out our inventory online or give us a call at (619) 649-0368 to schedule an appointment today. ')}