Buying and selling a home is a significant event that requires the services of a number of professionals, including a title company. If you are a first time homebuyer, or you’ve been living in your current home for a while, you may be unfamiliar with the terms and titles involved in a real estate transaction. It is important to become familiar with the players involved in a real estate transaction before selling or buying a home so that the process goes as smooth as possible. Here are the key players involved in the process:

Listing Agent/Realtor– This person, hired by the seller to market their existing property, helps the seller to get the highest possible price and terms for their existing property. Normally, the seller pays the listing agent between 6 -8 percent of the sales price as commission.

Buyer’s Agent/ Realtor– The buyer’s agent helps someone looking to purchase a new property to find potential homes, engage the listing agent for showings, and obtain the best possible price and terms for the new property. Customarily, the seller pays the buyer’s agent around 3 or 4 percent of the sales price as commission.

Lender– The lender can be a bank or mortgage company that loans the money to the buyer so that they can purchase the property.

Loan Officer/ Mortgage Broker – Representing the lender, the loan officer works directly with the buyer/borrower to pre-qualify them, complete the loan application, and put together the documents required for loan approval.

Loan Underwriter– The underwriter thoroughly assesses the borrower’s ability to repay the debt by reviewing all assets and past credit history, as well as the property details, appraisal, survey, and title search reports. Then, they will generate detailed reports of their findings before making final loan approval.

Loan Servicer– The loan servicer is an organization that offers after-closing servicing to process your mortgage payments and manage your escrow accounts.

Title Company or Closing Company – The title company is the center of the real estate transaction once the property is under contract. The title company works alongside each party involved in the transaction in order to facilitate the title transfer and complete the sale. For more information about the role of the title company in a real estate transaction, see our previous blog post (link to the above blog).

Escrow Officer and/or Settlement Agent– The escrow officer distributes funds in accordance to the sales contract and lender instructions. The settlement agent facilitates the closing process by preparing and recording all necessary documents. In Florida, the same person usually handles both of these roles with assistance from their treasury, accounting, and title departments.

Real Estate Closing Solutions is dedicated to helping you better understand the process of buying a new home. Contact our Orlando title company to learn more about the processes of buying, selling and financing real estate. Call 407-615-8550 or email any questions to our team at