Who is a Closing/Settlement Agent?
A settlement agent is a party who helps to complete a transaction between a buyer and a seller. This is done through the transfer of property to the buyer and the transfer of cash or other compensation to the seller.
For a real estate transaction, closing agents are professionals who function chiefly for the buyer by conveying the selling interest from the buyer to the seller and ensuring the orderly transfer of the legal title from the seller to the buyer through the closing process.
A settlement agent plays a central role in ensuring a "quick close." As such, not all agents are the same. For challenging transactions, specialized skills and knowledge may be required. Even a seasoned agent can be tested under the pressure of a high-stakes close. Settlement agents are also known as "closing agents" or "conveyancers".
Related Articles
Can I choose my own Settlement Agent?
Yes! You’re welcome to select your own. Simply follow these steps to select your preferred agent: Click on "+ Add My Closing/Escrow Agent" to begin the process. Provide the necessary details as requested and click on "Add My Closing Agent" to ...
What is closing agent and what do they get paid?
What is a Closing Agent: A closing agent, also known as a closing coordinator or settlement agent, is a person or entity responsible for facilitating the final steps of a real estate transaction. Their primary role is to ensure that all necessary ...
How do I complete the accepted contract form without a settlement agent?
To finalize the accepted contract form without a designated settlement agent, kindly communicate with the buyer's agent. Confirm with them whether a settlement agent has been determined. If no settlement agent has been decided, you can indicate "TBD" ...
I want to remove/opt out Settlement Agent
Houzeo connects you with a settlement agent who can help you with your closing process. However, you are not obligated to use their services and you can opt-out of the assigned settlement/escrow/title/closing agent. Follow the below steps to remove ...
Do I have to use (obligated to use) Houzeo's Settlement agent
No, you are not obligated to use a settlement agent assigned by Houzeo, during your listing process Houzeo suggests a settlement agent that we have partnered with. You also have the option to choose your settlement agent and invite them to Houzeo to ...