What is a task that the closing agent must complete after the closing?

After the closing of a real estate transaction, one critical task that the closing agent completes is paying off the existing loan. This step is essential in ensuring that the seller's obligations are settled and that the property is cleared of any existing liens associated with those loans. The closing agent typically handles the distribution of funds that includes paying the lender the amount owed on the loan. This process protects the buyer by ensuring that they are not assuming any previous liabilities attached to the property.

Other tasks such as preparing the closing statement, conducting a title search, or purchasing title insurance are typically completed prior to or during the closing process, making them part of the preparatory steps rather than post-closing obligations.