You have found the perfect house. Everything is going smoothly and you are getting ready to sign the final papers. When it comes to closing a real estate transaction the amount of paper in front of you can be intimidating. The loan documents need to be signed properly to finish the closing on the deal. Having someone to walk you through the signing process will make the final steps easier in the home buying process. This person responsible for this is a loan signing agent.
Responsibilities of a Loan Signing Agent
Loan signing agents have certain responsibilities that need to be met before they begin working on closing real estate transactions. In Rhode Island, a loan signing agent must first become a notary, carry errors and omissions insurance, get certified as a loan signing agent and complete a background check for the last ten years nation wide.
A lending institution will contract the loan signing agent to oversee the final signatures of the borrowers on the loan. The agent will make sure that all the documents have the appropriate signatures or initials and then notarize the documents. The agent then has the documents delivered to the designated location in a timely manner.
Benefits for the Real Estate Loan Process
The use of a loan signing agent in real estate transactions provides several benefits. These benefits range from:
-Ensuring the documents are signed properly.
-No signatures were missed.
-All the documents are in order.
-The convenience of completing the signing of the paperwork after office hours.
-The time-sensitive executed documents are delivered on time for processing.
-Funding is not delayed for the closing.
-The closing process is less stressful for the borrower because someone is walking them through the final step of the process.
Essential Signing Agents makes your real estate closing easy and stress-free, contact us today!