What is the final agent?
The final agent is a person or a company that is charged with coordination of various activities necessary to complete the sale of a house or other type of real estate. The task of the closing agent is to ensure that all documents and records are properly completed. It also ensures that the related funds are properly paid. The final agent basically acts as a guardian, a service that only a neutral party can perform.
The final agent does not work for the buyer, seller, agent or creditor. Instead, it processes the paperwork and activities needed for each side for sale/purchase of real estate. For example, the final agent asks copies of such documents as the sales contract and the Termite Inspectorate by the Participant Agent Agent. Depending on the unique details of the loan/sale, it may also apply for information about the legal representative and documentation with the home war. It also acquires such things as closing the instructions and detailrelating to the payment of mortgage funds. With this and other required documentation at hand, he prepares a statement of settlement, required honorary statement, credit documents and a number of other necessary documents for closing the sale/mortgage. In his dual role as an agent of custody he also processes paycheck checks.
When the loan is closed, the agent meets the debtor, the seller and their representatives. At a closing agent, the closing agent ensures that all documents, such as a note and truth statement, are duly signed, witnesses and copying for distribution to the parties. If necessary, returns the originals to the sides. For example, it gives the buyer/debtor copies of all signed documents, including all the embarrassing statements and documents provided by the creditor.
The final agent ensures that the buyer and the seller agree that the documents are fine. Then collects all the checks needed for the aftercoverage of the cost of closing and/or deposits. If the creditor covers annual real estate taxes and insurance, he will set up a new custody account. Although the agent collects checks at closure, it usually does not pay in full until the transaction is recorded.
After closing, the agent's task is to record the document and a mortgage with the relevant courthouse. The original document will then return to the new property owner, while the original mortgage documents are returned to the creditors. He then prepares the title policy for both the new owner and the creditors. Usually the closing agent returns such documents by mail.