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Duties of a Real Estate Closing Agent

A closing agent is responsible to perform numerous functions prior to and during the closing, including:

  • Ordering title work;
  • Ordering survey;
  • Assisting in obtaining required insurance;
  • Communicating with mortgage broker;
  • Communicating with lender;
  • Issuing title commitment;
  • Preparing closing statement;
  • Completing loan closing package;
  • Conducting closing;
  • Disbursing closing funds
  • Preparing DR 219 for recording documents
  • Recording documents
  • Forwarding recorded documents to parties and lender
  • Issuing and spending title insurance policies to lender and buyer; and
  • Preparing and filing Form 1099, if applicable

The attorney for either the buyer or seller may act as the "closing agent" to close a Florida real estate transaction.  The contract should always set forth which party shall select and pay for these services.  In most instances, it is best to have an attorney close a real estate transaction especially when it does not cost any more than using a title company, because of the added advantage of having legal representation on stand-by should those services be needed.

[See: Real Estate Disputes]

Can I Sue The Closing Agent?

Some times, closing agents fail to do their job correctly which requires the involvment of a Florida real estate lawyer.  Here is a list of the some of the issues requiring a lawyer's assistance, including where the closing agent:

  • fails to payoff loans and mortgages
  • fails to record a mortgage
  • fails to find municipal liens
  • fails to collect money due third parties
  • fails to obtain updated payoffs
  • fails to obtain a Survey
  • fails to obtain and record a Satisfaction of Mortgage
  • fails to obtain deeds from interested parties
  • fails to perform those other services which are generally the responsibility of a Florida closing or title agent.

[See: Florida Partition Lawsuit]

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Read: 19 Reasons To Hire a Real Estate Lawyer When Buying or Selling Florida Real Estate

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Broward County Lawyers

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