Purchasing a first home doesn’t have to be a complicated process with suspect fees, escrow officer errors, and unrealized post-closing surprises. If you are preparing to purchase a new residence, consider hiring a real estate agent to help with the closing processes. Experienced agents streamline the final sale by eliminating many of these complications.

Why A Real Estate Agent Is a Valuable Closing Asset

Reviews All Documents Thoroughly

Your real estate agent reviews each offer and counteroffer on the property to answer any questions you have about terms and conditions. Once an offer agreement is made, the agent suggests settlement dates that suit all parties. The agent then looks over all documents from your lender and escrow officer since errors are common and can delay the closing process. This includes identifying any extraordinarily high or extra fees from the lender, who charges to review and approve your mortgage application. Fees are usually between 2% and 5% of the total loan and cannot exceed 10% of the Good Faith Estimate, or GFE, requirements.

As per fiduciary duty, or the law requiring real estate agents to put their clients’ needs above their own, your broker will also sit in during your meeting with your escrow officer and lender. The agent explains any confusing aspects of the closing process to make certain you understand all costs before proceeding.

Assists With The Final Walk-Through

In addition to eliminating the confusion often synonymous with closing procedures, your real estate agent walks through your new home with you before finalizing the sale. This occurs after the home inspection is complete. This final walk-through checks that the owner made all repairs and replacements, so you are not left with unfinished work or faulty systems when you move in. This is an essential measure because any repairs or issues left unchecked become your problem once the house title transfer is complete. A knowledgeable real estate agent subsequently saves you money as well as time and frustration.
 

The real estate agent at Coldwell Banker Gundaker works with buyers and sellers directly to provide solutions that satisfy everyone. The agency has proudly served clients throughout Saint Louis, Saint Charles, Lincoln, and Warren counties in Missouri since 1999. Call (314) 566-6903 today to schedule an appointment or send the agent a message online. Get additional tips and the latest real estate news on Twitter.