Who Works for Whom?

With a number of professionals involved in any given real estate transaction, sometimes it can be difficult to ascertain just whom each of these people is working for. Here is some clarification on whom each of the major players in your transaction represents.

Listing Broker/Agent

Represents the Seller's best interests throughout the process.

Buyer's Broker/Agent

Represents the Buyer's best interests throughout the process.

Home Inspector

Works for the Buyer to find any potential flaws in the property prior to purchase.

(Note: Sometimes Sellers will have an Home Inspection before placing the home on the market to know about any issues beforehand so they may have them fixed or take them into consideration when pricing the property. In this instance, that inspector would work for the seller. The Buyer is always advised to have their own inspection rather than rely on a report given by the seller.)

Bank/Mortgage Broker/Lender

They work for whomever is providing the loan, be it bank, or private investor. Though some will work for you in order to find the best loan program at the lowest rate.

Buyer's Attorney

Represents the Buyer's best interests throughout the process.

Seller's Attorney

Represents the Seller's best interests throughout the process.

Closing Attorney

Represents the bank's interests at time of closing. The closing attorney obtains and prepares all the documentation needed in order to close.

They make sure all the details are in place and that any specific requirements that the bank needs are in hand. The closing attorney also makes sure that the new deed and mortgage paperwork are properly and legally recorded with the Registry of Deeds, and subsequently handles disbursement of the funds from the sale to the appropriate parties.

Charissa Pemper, Boston REALTOR®

Charissa Pemper
Lic. MA Real Estate Broker, REALTOR®
Charissa@HomesInBoston.com