In real estate, why do I need a closing agent? Can I do closing myself?

Question

Thanks!

Answer 1

Being a notary has NOTHING to do with the legality of a closing.

People need to understand that all a notary does is WITNESS A SIGNATURE...THAT'S IT!!!!!!

Notaries are not attorney's, they are not legal professionals, they are NOT permitted to give ANY legal advice or else they can be found guilty of practing law without a license.

NOR can they conduct a closing UNLESS they are presenting papers ONLY to sign...they are not permitted, by law, to explain a single document in the closing package....b/c that is giving legal advice, and that is practing law without a license.  When notaries witness these signatures they do it on the behalf of an attorney or a title company.

Now with that said, you CANNOT do a closing unless you are an employee of a title agent, a licensed attorney, or a broker-in-charge of a real estate firm (some states...but you would be hard-pressed to find one willng to accept that kind of liability).

Answer 2

I would at least have a lawyer.  If youre a buyer, you might as well have an agent since the seller pays the fee.  

Answer 3

Why would you want to put the largest purchase in ones life in jeopardy?  If you are getting a mortgage, the mtg company will not allow it.  They need an insured letter from the title company.  As a buyer or a seller, I would never agree to this.  

Answer 4

Not unless you are a notary and you have wiring instructions and you could  insure title.