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We plan on making closing on April 30th. I asked my agent, just on a whim, if he was going to be with us at the closing, and I was surprised when he said "no, it's just you signing papers for about 2 hours." He'll see me at the walk through right before.
We've only owned one home about 4 years ago (been renting since). When we bought it, our agent and the seller's agent was there, and the same when we sold it.
I know I would feel more comfortable with him there...in case there's a mistake or a question about something....but I don't know if it's normal for him NOT to be there, and for me to ask him to take 2 or so hours to be in this boring meeting with us is out of the norm.
We plan on making closing on April 30th. I asked my agent, just on a whim, if he was going to be with us at the closing, and I was surprised when he said "no, it's just you signing papers for about 2 hours." He'll see me at the walk through right before.
We've only owned one home about 4 years ago (been renting since). When we bought it, our agent and the seller's agent was there, and the same when we sold it.
I know I would feel more comfortable with him there...in case there's a mistake or a question about something....but I don't know if it's normal for him NOT to be there, and for me to ask him to take 2 or so hours to be in this boring meeting with us is out of the norm.
Thanks!
So that is taking to much time for him to get the 3%? He should be there for you that is part of being a buyers agent and I would call him and ask him to be there or call his broker and tell him that you want your realtor present.
If a buyer doesn't want the realtor to be present than it is a different story.
I know I would feel more comfortable with him there...in case there's a mistake or a question about something
Questions/problems on what you're signing at closing are not rightfully the province of a RE estate. Anything you ask him/her about it likely (and should) elicit the reply; "I can't answer that as I would be practicing law without a license", or words to that effect.
You should become familiar enough with the HUD-1 accounting and which days get assigned to buyer/seller that you can spot any errors on the form. These errors are pretty rare since it's all computerized now. However, I'd say that about 10% of my closings we've caught something, although in advance now since we won't go to closing without having the HUD-1 emailed to us 48 hours in advance.
You're going to be signing a LOT of papers, NONE of which you're going to read at the title company (unless YOUR attorney is handling the closing-everywhere I've ever lived/owned RE it was done at title companies), MOST of which you will NOT understand. There's a hint in this paragraph.
I'm a bit different, I'm an investor and I've bought and sold between 75 and 100 properties. Once at a closing the buyer asked "what exactly is a Deed of Trust?" There was an attorney present and he fumbled around with it for a bit, and then my wife remembered a phrase we'd picked up in a real property law class (I won't bother with it here-I'm too long winded as it is) and repeated it.
Everyone, lawyer, title company lady, agent and buyer was suitably impressed. As wer were leaving the lawyer took her aside and said, "that's the best description of a D of T I've heard, even my contracts professors never made it that clear". My lovely bride just smiled her little smile.
We plan on making closing on April 30th. I asked my agent, just on a whim, if he was going to be with us at the closing, and I was surprised when he said "no, it's just you signing papers for about 2 hours." He'll see me at the walk through right before.
We've only owned one home about 4 years ago (been renting since). When we bought it, our agent and the seller's agent was there, and the same when we sold it.
I know I would feel more comfortable with him there...in case there's a mistake or a question about something....but I don't know if it's normal for him NOT to be there, and for me to ask him to take 2 or so hours to be in this boring meeting with us is out of the norm.
Thanks!
the number of agents that come to my closings are about 50% of my purchases.. I think its a waste of time for them to appear because I hold the closing company responsible for making sure that all terms of the contract is held to..
It can depend on if funds are dispersed at the closing table or not. Lately I'm finding that when using an escrow closing company, that the realtors do not appear. This may or may not be due to the fact that there is no payments made to anyone while at the table.
I don't know what's normal in your state, but in Indiana agents always attend closings.
In most cases, they do nothing but sit at the end of the table and chit chat with each other but I do believe the agent (or their broker) are required to be there.
There is no reason an agent should have to be at a closing. However, as a courtesy to your customers I think an agent should make themselves available. Buyers/Sellers are anxious, nervous, and excited already. In some cases they need that comfort level (hand holding) to feel good all will go well. An agent cant give legal advice but it is their responsibility to read through that HUD to ensure its accurate. What I have seen is that alot of agents care about one line on that HUD (line 700). Thats right, their commision is on that line. Getting paid is great, but I want that customer to come back again and again. Attending closings is sometimes your last opportunity to leave that great customer service impression. I personally attend all closings as a choice.
In my area it depends. A lot of the closings the buyer is not even present and it's done by mail. The HUD should be reviewed by all parties and any corrections should be made prior to the closing. It would be nice for the agent to be there and the right thing to do but it's not required. I will say I try to be at all closings for my clients, unless I'm out of town or I have two going on at the same time. (it happens) My last closing, I did catch something that was forgotten about by the buyer and the attorney, so it's always good to have that extra set of ears. Just tell them you would like for them to be there. Congrats. on your new home purchase.
I represent my client and have responsibility until the deal is closed, and that is part of the package deal, IMO.
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but I do believe the agent (or their broker) are required to be there.
