What is the role of a settlement agent?

The role of a settlement agent is primarily to facilitate the closing process of a real estate transaction. This involves coordinating the various aspects necessary to complete the transaction between the buyer, seller, lenders, and other parties involved. The settlement agent ensures that all documents are correctly executed, that necessary funds and payments are transferred, and that the title to the property is properly conveyed.

During the closing, the settlement agent reviews all legal documents, collects and disburses funds, prepares the closing statement, and guides the parties through the final steps of the process. This central position helps ensure that the transaction proceeds smoothly and adheres to legal requirements.

The other options describe tasks that are outside the primary scope of a settlement agent's responsibilities. For instance, conducting home inspections focuses on evaluating the condition of a property, while preparing legal documents requires expertise in legal practices that may go beyond what a settlement agent typically handles. Managing property taxes involves dealing with local government tax assessments, again not falling under the settlement agent's primary functions.