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People involved
Know who usually handles what across agents, lender, escrow, insurance, and transaction coordination.
Terms in this section
Buyer's agent
Represents the buyer. Common responsibilities include search guidance, offer strategy, contract coordination, negotiation, deadline tracking, and communication with the other parties.
Seller or listing agent
Represents the seller. Common responsibilities include marketing the home, presenting offers, coordinating seller responses, and communicating seller-side requirements.
Lender
The bank, credit union, mortgage company, or broker helping evaluate and provide financing. They review income, assets, credit, appraisal, and loan conditions.
Escrow company
A neutral closing party that follows written instructions, receives and disburses funds, coordinates signing, and helps finalize the transaction according to the contract.
Transaction coordinator
Helps agents or brokerages manage paperwork, signatures, dates, disclosures, and communication. They usually coordinate details but do not replace agent or lender advice.
Homeowners insurance
Insurance for the property and certain losses. Lenders usually require it before closing, and quotes can affect the monthly payment estimate.
This is a general reference, not mortgage, legal, tax, or insurance advice. Exact requirements vary by lender, loan program, contract, state, and property.