Who is closing agent

Sample 1. Sample 2. Sample 3. Closing Agent means, with respect to any Wet - Ink Transaction , an entity reasonably satisfactory to the Buyer and the Agent which may be a title company , escrow company or attorney in accordance with local law and practice in the jurisdiction where the related Wet-Ink Mortgage Loan is being originated to which the proceeds of such Wet-Ink Transaction are to be wired pursuant to the instructions of the Seller.

Unless the Agent notifies the Seller electronically or in writing that a Closing Agent is unsatisfactory , each Closing Agent utilized by the Seller shall be deemed satisfactory; provided , that the Agent shall instruct the Custodian that no funds shall be transferred to the account of any Closing Agent after the date that is five 5 Business Days following the date that notice is delivered to the Seller that such Closing Agent is unsatisfactory, and provided, further, that the Recognized Value shall be deemed to be zero with respect to each Mortgage Loan, for so long as such Mortgage Loan is a Wet-Ink Mortgage Loan, as to which the proceeds of such Mortgage Loan were wired to a Closing Agent with respect to which the Agent has notified the Seller at any time both before and after the related Purchase Date without regard to the five 5 Business Day period referenced above that such Closing Agent is not satisfactory.

Closing Agent means a closing agent subject to the licensing requirements of chapter B. A closing agent can work with the parties to resolve any title defects. Often, closing agents also serve as escrow agents to hold funds pending disbursement. At closing, the closing attorney will handle paying realtor commissions, discharging the existing mortgage, disclosing and paying lender fees and closing costs, funding the mortgage escrow account, paying prepaid interest, and distributing the sales proceeds.

The closing attorney needs to explain the documents being signed, distribute funds, and make sure the closing is conducted in compliance with applicable regulations. A closing agent also has duties after closing occurs.

After closing, he must make sure all mortgages and liens that are paid off are discharged. He must also process loan funding. Under section For example, the closing agent should reserve this amount where he receives a commission notice related to commercial real estate in accordance with the mandates of section A closing agent for commercial real estate can also ask that the owner of commercial real estate to send a sworn affidavit with particular disclosures, such as the amount of a commission claimed.

Buying real estate of any kind in Florida is a huge investment. It is critical to approach buying real estate with caution and an awareness of potential legal pitfalls. Because Florida real estate law is complicated, an experienced lawyer who also serves as a closing agent can help guide you through the entire process. Attorneys Michael E.

We sit at the table to assist in a seamless closing. Unlike other companies, our closers are professional signing agents that ensure everything runs smoothly and all questions are answered courteously and professionally. Before reaching the closing table we review the title search, resolve any issues that may occur, order lien letters and tax certifications, obtain payoffs for mortgages and judgments, perform patriot, domestic relations and bankruptcy searches and clearances, request subordination agreements and satisfaction pieces when necessary, deal with bankruptcy issues and short sale instructions.

Our comprehensive portfolio of services assists you in every facet of the real estate settlement process. Ready to get started?