real estate closing handing over keys

Who’s Who in Real Estate Closings? 

July 10, 2024

Closing day is a milestone moment, and it’s easy to overlook the team of professionals working behind the scenes to ensure everything goes smoothly. If you’re buying or selling a home, here are the key players you’ll meet along the way: 

1. Real Estate Agent: Real estate agents act as your guide through the buying or selling process. They help negotiate, arrange inspections, and keep everyone on track until closing day. 

2. Lenders and Mortgage Brokers: These folks provide the cash you need to buy your dream home. They help with loans, check your finances, and handle the money side of things. 

3. Title Company: Your title company is responsible for ensuring the property you’re buying has a clean title that can legally be transferred. They search the title history, issue insurance, and handle the money and paperwork on closing day. 

4. Real Estate Attorneys: Legal experts who review contracts, handle legal matters, and make sure all the closing documents are legit and follow local rules. They’re there to protect your interests. 

5. Home Inspectors: Before closing, inspectors check out the property to spot any issues that could affect its value or safety. Their findings can lead to repairs or changes before you seal the deal.  

6. Appraisers: They figure out the fair market value of the property to determine if it aligns with the sale price. This also helps lenders decide how much they’re willing to loan you based on what the home is worth.  
 
7. Escrow Officer: The escrow officer is a neutral third party who holds onto money and important documents until everything is set for closing. They make sure all conditions are met before transferring ownership. 

8. Insurance Agents: They ensure you have the necessary homeowner’s insurance in place before closing. Lenders typically require proof of insurance to protect their investment. 

9. Land Surveyors: A land survey is sometimes required by the mortgage lender or title insurance company to verify that the property they’re lending you money to purchase is as described in legal documents and is suitable as collateral for your mortgage loan. 

5. Closing Agent: This person conducts the closing meeting, facilitates the signing of documents, and disburses funds. 

These players are all here to ensure you can buy or sell with confidence, and understanding their role can help make your closing process smoother. They’re all here to ensure you can buy or sell with confidence. At Ohio Real Title, we want your closing experience to be stress-free, which is why we’ll make sure you understand everything about title insurance and take care of all the little details.