Saturday, January 4, 2014

Home Buyer Tips: Is it necessary for your real estate agent to attend the closing?

The short answer is "No, it is not necessary." 

Rarely have I seen any issue arise at closing that required either the buyer or seller agent to put out a fire.

The real estate closing is the culmination of an often stressful two or three months for the buyer and seller.  For sellers, it is the end of the strangers trekking through their home and is a time of excitement as they await  the next step in life.

Buyers, especially first time buyers, may be overwhelmed by all the "paperwork."   Because part of the closing process includes a final walk through inspection, most buyer's agents go directly to the closing with their clients anyway.  Read "What is a walk through inspection?"

In my ten plus years as a Brevard County, Florida real estate agent I have missed one closing that I can recall.  In that case I was the seller's agent and it was a cash transaction.  Still I had another broker attend for me.

Most of the time everyone is pleasant as the closing process moves forward.  Most often sellers and buyers chat like they are old friends.  Real estate agents sit quietly and, like a child, speak mostly when spoken to or asked a question.  Sometimes the real estate agents sign as witnesses to the transaction.

What about mortgage lenders?  Should your lender attend the closing?

If you are a first time buyer having a lender present can be somewhat reassuring.  As a mortgage expert they are available to answer any questions specific to the loan.  But most, in my experience, mortgage lenders do not attend closings.

Maybe it is a sign of the times with the mortgage industry as my last two closings in 2013 were attended by the loan officer/mortgage lender.

Should your real estate agent or lender to be present for a closing in Brevard County, Florida? 

My answer:  If you want them there, say so.  As for me, I will be there anyway.   

If you are considering selling your Viera, Rockledge or Suntree home, call me at 321-693-3850 or send me an email.

In Brevard County, Florida most real estate closings take place at title companies.  Attorney closings are the exception rather than the norm although some buyers and sellers prefer to use a real estate attorney for the closing.