The full explanation
It collects the money from the lender and from you, pays the seller, distributes the closing costs and records the documents with the county. It works for all the parties; it is not your personal representative. Ask it how to pay the money you need to bring to closing.
An example
A week before closing, Gabriela calls her settlement agent at the number she wrote down at the start to confirm how to send her down payment.
You will see it in…
- The Closing Disclosure, page 1 (“Settlement Agent”) and the contact table
- The instructions for sending your closing funds
- The documents recorded with the county after closing
