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Originally Posted by nsumner
It seems like the same concept as in Texas. We don't use attorneys. We use title companies here. Buyers and sellers don't close at the same time. Sometimes it's even on different days.
The escrow officer of the title company explains all the documents to the buyer and seller. Title companies are owned by attorneys BTW and buyers actually sign a waiver that the attorneys of that title company didn't represent them. They simply check the paperwork for fraud and order the title search since they issue the title policy.
A lot of agents in our area don't go to closings.
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Same in WA and Colo. I've only done about 25 closing transactions, but had an agent there once, it was very uncomfortable, so never again.
Why would anyone want an agent at closing?
I request paperwork the day before and go over it with a lawyer if necessary and complex (usually for multi-tenant commercial, or multi-parcel projects), but for a simple residence I can't think of any value to having an RE agent at closing. The title company knows their stuff and has done all the paperwork anyway. I just schedule the closing to best meet the needs of all, and have only signed at the same time as other side one time as well. Often we are within a couple hours of other side, and quite often done via a remote process (out of state / country transactions). We did one US transaction while living in Europe and one while in Asia. It is not big deal, but can be very uncomfortable with unnecessary folks in the room. The only time I was really torn in a closing was a 'sinking' feeling I had about one buyer, BUT it was my only 'Bi-Level' and we had FINALLY had a buyer!!! My hunch was correct... there was a 'domestic' issue between the couple and one of them really got the shaft, so now I am more careful.