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Duties of a Florida Real Estate Closing Agent

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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 real estate closing, including:

  • Ordering title work;
  • Ordering the HOA or Condo Estoppels (seller usually takes care of this task)
  • Ordering a survey;
  • Ordering a Lien Search (and a building and zoning check if requested by the buyer);
  • Assisting in obtaining required insurance (homeowners & wind);
  • Communicating with the mortgage broker;
  • Communicating with the lender;
  • Issuing the title commitment;
  • Preparing the closing disclosure;
  • Completing the loan closing package;
  • Requesting from the Seller a loan Payoff Statement;
  • Conducting the closing;
  • Disbursing the closing funds;
  • Sending the signed mortgage documents to the lender for a funding number and/or disbursement approval;
  • Recording the documents;
  • Forwarding recorded documents to the parties and lender;
  • Issuing and sending 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: Florida Title Insurance]

Can I Sue The Closing Agent?

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

  • fails to pay off 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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