Who are all the people in a real estate transaction? When buying and selling a home a LOT of people are involved!

A real estate transaction sounds simple, right? Well, not exactly! There are dozens of people involved, including agents, lenders, inspectors, appraisers, insurance representatives, and many others. By the time a buyer is under contract with a seller a lot will have already happened, such as disclosure of any problems and facts about the property, and now it’s time to look in more detail and work towards closing.

Today Kathryn Weinberger in this short video covers the people in a real estate transaction, the different things that each professional does and why they’re necessary.

Once you’re under contract you’ll get to know all the people in your transaction who are working on your behalf.

The people in a real estate transaction may include:

-The seller’s agent: The seller’s agent is responsible for marketing the property and representing the seller’s interests.

-Buyer’s agent: The buyer’s agent is responsible for helping the buyer find a property and negotiating on the buyer’s behalf.

– Transaction Coordinator- they work for you directly on your behalf to coordinate the work that needs to happen on your behalf and make sure nothing slips through the cracks.

-Loan officer: The loan officer is responsible for helping the buyer get financing for the property.

-Escrow agent: The escrow agent is responsible for holding the deposit and ensuring that all of the paperwork is in order. Usually this is the Title Company.

-Title company: The title company is responsible for doing a title search and ensuring that there are no liens on the property.

-Appraiser: The appraiser is responsible for determining the value of the property.

-Home inspector(s): The home inspector is responsible for inspecting the property and making sure that it is in good condition.

-Termite inspector: The termite inspector is responsible for inspecting the property for termites and other wood destroying organisms- WDO.

-Surveyor: The surveyor is responsible for surveying the property and creating a map of the property.

-Closing agent: The closing agent is responsible for preparing all of the paperwork for the closing and ensuring that everything goes smoothly. Usually they are with the Title company!

Additional support from an attorney could also be needed. 

Happily, we are now able to offer an attorney-written post closing occupancy agreement to buyers and sellers if needed, for them to complete together.

All these people in a real estate transaction have specific roles and make sure you’ll be on the way to closing on buying or selling your home! 

0:00 Introduction- why are transactions so complicated?? 

0:20 Buyer and Seller and how they are represented

1:02 New Construction homes

1:13 Title company role

1:27 Transaction coordinator

1:51 Lender, Mortgage Brokers and underwriters and Appraiser

2:17 Inspectors, Pest, Well and Septic, pool and others

2:30 Home Warranty Representatives

2:45 Homeowners Insurance Agent,, and HOA and Condo Association agents

3:10 Other possible people- Attorney

3:25 Getting your ducks in a row