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Real Estate Glossary

What's a Closing Agent?

A closing agent, also known as a settlement agent, is the person who makes sure all deals are closed in an effortless way for all parties. They ensure comfort and a thorough following of all procedures.

Closing agents don't only convince the client to take that final step; they also have a series of responsibilities to take care of including:

Ensure all parties understand the instructions of the deal
Fill up all important legal documents
Guarantee all parties have access to all the needed documents
Take care of the transactions
Ensure that lenders get their money from the new owner

Adverse Use

Agent

Buyer Broker

Bylaws

Capital Improvement

Commission On a Listing Agreement

Debt Coverage Ratio

Debt Service

Equivalent Level Rate (ELR)

Fair Housing Act

Letter of Intent

Low-Ball Offer

Real Estate Investment Trusts (REITs)

Real Estate Settlement Procedures Act

RESPA

Seller Carry-Back

Sublease

Total Expense Ratio

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Beycome Family of Companies: Beycome Mortgage LLC provides home loans; Beycome Brokerage Realty LLC, Beycome Brokerage Realty Inc., and Beycome of Florida LLC provide real estate services; Beycome Title of Florida LLC provides title insurance services. These are separate entities under Beycome Corp., each governed by its own management as required by law, but all owned by the same individuals, forming a business relationship.
Beycome Corp. holds real estate brokerage licenses in Multiple States: Beycome of Florida LLC is licensed in FL. Beycome Brokerage Realty Inc is licensed in CA. Beycome of Connecticut in CT. Beycome Brokerage Realty LLC is licensed in AL, GA, IL, IN, MI, MN, NC, OH, SC, TN and TX.
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IDX© information is provided exclusively for consumers’ personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate.

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Beycome fully supports the Equal Housing Opportunity laws.

Artur

Real Estate Assistant