What must a closing agent do before charging a fee?

The requirement for a closing agent to disclose the fee at least one day before the settlement is rooted in the principles of transparency and informed consent in real estate transactions. This practice ensures that all parties involved, particularly the buyer, have adequate time to understand the costs associated with the closing process. By requiring disclosure prior to settlement, it allows buyers to evaluate the fee and make informed decisions. It also minimizes potential disputes or misunderstandings at the time of closing, contributing to a smoother transaction process.

This advance notice helps to foster trust between the closing agent and the consumers, as it allows buyers to prepare for their financial obligations ahead of time. Additionally, it aligns with various regulatory requirements aimed at protecting consumers in real estate transactions.

In contrast, the other options do not adhere to the best practices or legal requirements regarding the notification of fees. For instance, obtaining verbal consent after the closing does not allow for the same level of informed decision-making that prior disclosure does. Similarly, simply collecting a deposit or waiting to notify the buyer won't ensure that the buyer has been made adequately aware of all costs they will incur ahead of time.