Who Attends a Real Estate Closing?

A real estate closing marks the official transfer of ownership from seller to buyer. It is the final step in purchasing and financing a property, where all parties sign documents to finalize the deal. The buyer provides funds, including the down payment and closing costs, while the seller receives payment for the property, and any existing liens or mortgages are settled.

Core Individuals Present

The closing table includes individuals whose physical presence is essential for the transaction’s legal finalization. Buyers sign documents related to financing and ownership transfer. These include the promissory note, binding them to repay the mortgage, and the mortgage or deed of trust, securing the property as collateral. Buyers also sign the Closing Disclosure, a detailed summary of loan terms, projected monthly payments, and closing costs, which they must receive at least three business days prior to closing.

Sellers are present to formally transfer the property title. Their documentation includes signing the deed, which conveys ownership, and an affidavit of title, confirming clear ownership and absence of undisclosed liens or encumbrances. A neutral third party, often called the closing agent, settlement agent, or escrow officer, presides over the meeting. This individual, who may be a title company representative or an attorney, prepares and reviews all closing documents, coordinates signing, and ensures accurate fund disbursement. The closing agent also ensures compliance with legal requirements and local regulations.

Additional Professionals Attending

Other professionals may attend the closing to provide guidance and support. Real estate agents for both the buyer and seller often attend to offer support, answer questions, and help navigate any last-minute issues that might arise. They review documents like the purchase agreement and closing statements, ensuring accuracy and clarity for their clients.

A loan officer from the buyer’s lending institution may also be present, particularly if there are complex financing questions or if the lender requires their attendance. Their role is to clarify loan terms, explain specific financial details, and address any concerns related to the mortgage. Attorneys representing either the buyer or the seller, distinct from the closing agent, might also be present. These attorneys advocate for their respective clients’ interests, review all legal documents for compliance, and provide legal advice, especially in states where attorney involvement is customary or required.

Key Roles Not Present at Closing

Many professionals play roles in the real estate transaction leading up to closing but do not attend the final meeting. The appraiser provides an unbiased estimate of the property’s market value, which helps lenders determine the maximum loan amount. Their work, including inspecting the property and analyzing comparable sales data, is completed weeks before closing, and their presence is not required at the table.

A home inspector conducts a thorough evaluation of the property’s condition, identifying potential issues with its structure, systems, and components. Buyers use this report to make informed decisions or negotiate repairs, but the inspection occurs well in advance of closing, making the inspector’s attendance unnecessary. A land surveyor establishes and verifies the precise legal boundaries of the property, identifying easements, encroachments, or compliance issues with local regulations. This work ensures clarity regarding the land being transferred, with findings delivered as a report or map before closing.

The mortgage underwriter works behind the scenes, assessing the buyer’s creditworthiness, reviewing financial documentation, and approving or denying the loan application. Their review ensures the loan meets the lender’s criteria and regulatory standards. Their role is administrative, and they do not participate in the closing ceremony.