settlement agent
Definitions (2)
1. Individual or firm responsible for the final stages of completing a sale (known as the "settlement") between the buyer and seller. Settlement agents are usually responsible for facilitating payment from the buyer to the seller and transferring the property or securities from the seller to the buyer.
2. Individual or firm acting on a buyer's behalf to him or her purchase property from a seller by securing the title after payment has been made. Settlement agents can be attorneys or representatives of the title office. also called closing agent.
Use settlement agent in a sentence
“ We worked with the settlement agent and found that he was really good at his job and put a lot of work into what he did. ”
“ The settlement agent will finalize the sale and forward payment to all parties when the title has been signed and received. ”
“ During the final process of the purchase of their new home, the couple had to meet with the sellers, along with the settlement agent, to complete the transaction. ”
