Who’s Involved in a Real Estate Transaction?

We have knowledgeable customer-focused professionals available to answer your title and settlement questions. Throughout the home buying and selling process, you may also encounter the following industry specialists who are able to professionally answer questions in their area of expertise.

REAL ESTATE ATTORNEY – A real estate attorney can give advice on all legal aspects of the real estate transaction. Additionally, they are able to draft and review contracts, help decide how to take title, facilitate title searches, title clearance and issue title insurance policies to enable the efficient transfer of real estate. In some states, real estate closings can only be conducted by attorneys.

REALTOR – A REALTOR is a licensed real estate agent and a member of the National Association of REALTORS. They also belong to their state and local Association of REALTORS.

REAL ESTATE AGENT – A real estate agent is licensed by the state to represent parties in the transfer of property. Every REALTOR is a real estate agent, but not event real estate agent has the professional designation of a REALTOR.

LOAN OFFICER – A loan officer is a representative of a bank or other financial institution. They help customers identify their borrowing options and understand the terms of their loan.

TITLE COMPANY – Title companies preform title searches, title clearance and title insurance policies help to produce clear property titles and enable the efficient transfer of real estate.

LISTING AGENT / BROKER – A listing agent or broker forms a legal relationship with the homeowner to sell the property.

BUYER’S AGENT / BROKER – A buyer’s agent or broker works with the buyer to locate a suitable property and negotiate a successful home purchase.

APPRAISER – An appraiser works on behalf of a lender and provides a market analysis of the subject property. An appraiser’s finding is subjective and combined with market findings of sold properties within the surrounding neighborhood.

HOME INSPECTOR – A home inspector objectively and independently provides a comprehensive analysis of a home’s major systems and components.

ESCROW / CLOSING OFFICER – An escrow or closing officer, usually employed by your real estate attorney or title company, works with all participants to facilitate a successful closing of a real estate transaction. At closing, they will collect the purchase money funds from the buyer and lender as well as the settlement costs from each party, then disburse the funds in accordance with the HUD-1 settlement statement and record the necessary documents to transfer ownership of the property.

INSURANCE AGENT – An insurance agent helps a homebuyer determine the homeowner’s protection coverage needed and assists in locating the right insurance policy to fit those needs.