In a real estate transaction involving multiple brokerages, the responsibility for finalizing the sale typically falls upon the brokerage representing the buyer. This brokerage manages the final paperwork, ensures funds are transferred correctly, and coordinates the closing process with the relevant parties, including the title company and the seller’s brokerage. A clear understanding of these roles and responsibilities is essential for a smooth and efficient transaction.
Successfully completing this process is critical for all stakeholders. It ensures the legal transfer of property ownership, safeguards the financial interests of both buyer and seller, and solidifies the commission agreements between the involved brokerages. Historically, established procedures and regulations have evolved to ensure transparency and minimize potential disputes, highlighting the significance of a well-defined closing process.
