According To Real Estate Commission Rules - Who Has Responsibility For An Accurate Closing?

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According To Real Estate Commission Rules - Who Has Responsibility For An Accurate Closing?

The buyer and seller The title company and closer The lender The designated broker, the employing broker and any substitute broker
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The designated broker, the employing broker and any substitute broker The Employing Broker has responsibility for all company closings. The Designated Broker is the broker appointed by the Employing Broker on behalf of the company to service the transaction. If the Designated Broker is unable to attend a closing, a stand-in broker would need to be appointed and would thus acquire responsibility. This scenario repeats for any company representing the Buyer and the Seller. The buyer and seller and title company have a vested interested in accuracy but are not subject to Commission rules and regulations as they are not licensed. Lenders are licensed but only contribute to the loan portion of the closing. Regardless, the real estate companies and agents have the highest level of responsibility according to law for a closing.
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