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Settlement Agent

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Settlement Agent
A person responsible for ensuring that all laws and regulations are followed in transferring real estate from one owner to the next. For example, when one sells his/her house, the settlement agent performs the title search and conducts other activities necessary for the real estate to close smoothly. Generally speaking, a settlement agent does not represent either party in a real estate transaction. Some U.S. states require a settlement agent to work on real estate transactions.

Settlement agent. In some states, a settlement agent, or closing agent, handles the real estate transaction when you buy or sell a home.

He or she oversees title searches, legal documents, fee payments, and other details of transferring property, acting on your behalf to ensure that the conditions of the contract have been met and appropriate real estate taxes have been paid.

A settlement agent also represents you at the closing, so you don't need to be present.



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The settlement agent, whether an individual or firm, is responsible for filing accurate 1099-S forms for the seller(s).
Titan requires background checks on agent attorney and maintenance of approved settlement agent lists, she said.
For example, HUD originally proposed that settlement agents read a closing script at the closing table and that a copy be provided to borrowers.
 
 
 
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