A closing agent is a neutral third party who handles the closing of a real estate transaction, ensuring the details of the purchase agreement are fulfilled. They prepare the necessary documentation and may conduct the closing meeting.
An escrow agent is a neutral third party who holds funds or assets during a transaction until specified conditions are met, ensuring a secure process for the involved parties.
Escrow Closing refers to the final phase in a real estate transaction, particularly in states that use deeds of trust instead of mortgages. During this phase, an escrow agent or title company holds onto necessary documents and funds until all conditions of the sale are met.
A third party is an individual or entity that is not directly involved in a transaction or contract but may still be involved or affected by it. Third parties serve different roles in real estate transactions, such as tenants, escrow agents, or other relevant stakeholders.
