Settlement agents are workers handling the final stages of a property sale. The settlement agent completes a sale meeting with the buyer and seller; called a closing. At the closing, the settlement agent has the buyer and seller review and sign all the settlement paperwork.
Purpose
Settlement agents, or closing agents, are found at property sale closing dates, which normally take place at a title company. The settlement agent acts as a third party to the buyer and seller; her job is to transfer a piece of property from the seller to the buyer.
Duties
A settlement agent reviews all closing documents with a seller and buyer. One crucial document provided at closing is the settlement statement. This statement breaks down the cost of the property as well as all associated fees and charges and gives detailed information to both the buyer and seller as to how the money is being dispensed.
Responsibilities
During a closing process, a settlement agent has responsibilities including ensuring all paperwork is completed. He also is responsible for collecting any payments due that the buyer owes to the seller. Another part of the agent's responsibilities is transferring the property according to all laws and regulations from the seller to the buyer. This includes providing accurate and complete title work for the property.
