Escrow & Title
In Wisconsin, who typically serves as the closing agent for a residential real estate transaction?
AThe listing broker
BA title company or attorney✓ Correct
CDSPS
DThe county register of deeds
Explanation
In Wisconsin, closings are typically handled by a title company or real estate attorney who acts as the closing agent and handles the transfer of funds and documents.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
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