Roles and handoffs
Who Does What From Preapproval to Closing?
A financed purchase works best when each participant confirms the facts within that participant's role. This guide maps the handoffs so buyers know whom to ask, what to verify, and where responsibilities meet.
The short answer: no single person controls the whole transaction.
The buyer makes decisions and provides accurate information. The lender evaluates the loan. The real estate professional handles brokerage work and transaction guidance within that role. The inspector evaluates visible property conditions, the appraiser develops an independent value opinion for the assignment, and title or settlement professionals coordinate title work, documents, and funds.
This is a responsibility map, not a second mortgage-process guide or an interpretation of Texas contract rights. Use the Texas financed-offer timeline when the question is how those roles coordinate around an offer.
Those roles overlap through information, not authority. A real estate professional may need to know whether a lender can work with a contract date. A loan officer may need the signed contract and property details. A title professional may need lender instructions. The safer pattern is to pass the question to the person who owns the answer rather than rely on a secondhand assumption.
Use this role map when a question appears.
Buyer
Sets goals, chooses professionals, reads documents, provides complete information, meets deadlines, and asks questions before signing.
Loan officer and lender
Explain the requested financing, collect application information securely, issue required loan disclosures, coordinate loan processing, and make lending decisions through the lender's process.
Real estate professional
Handles brokerage services such as the property search, market context, offer preparation, negotiations, and transaction coordination within the professional's license and agreement.
Home inspector
Performs the inspection the buyer orders and reports observed conditions within the scope of that inspection. An inspection is separate from an appraisal.
Appraiser
Provides an independent opinion of value for the assignment and addresses applicable property requirements. The appraiser does not approve the loan or represent the buyer.
Title and settlement
Addresses title and closing work within the company's role, coordinates documents and funds, and supports the transfer and loan closing under applicable instructions.
Other professionals may be involved, including insurance agents, surveyors, attorneys, repair specialists, condominium associations, tax authorities, and government program staff. The exact participants and closing practices can vary by transaction.
The critical work happens at the handoffs.
From preapproval to property search
The lender can describe what was reviewed and what remains conditional. The buyer decides a comfortable budget. The real estate professional uses the buyer's direction to shape the search. If the search shifts to a different property type, occupancy plan, price range, or location, the buyer should ask the lender whether the financing conversation needs to be updated.
From property choice to offer
The real estate professional can discuss the offer and contract terms within that role. The lender can confirm whether the planned financing, property category, and proposed dates raise questions. In Texas, a third-party financing addendum may be used when an outside lender provides some or all of the purchase price. The Texas Real Estate Commission describes the current form, but contract interpretation and legal advice belong with appropriately licensed professionals.
From accepted offer to loan processing
The signed contract gives the lender property-specific information. The lender can then continue the application, disclosures, appraisal coordination, verification, and underwriting process. The buyer should respond through secure channels, keep the loan officer informed of changes, and retain copies of requested records.
From inspections and appraisal to decisions
The inspection report belongs to the buyer's property due diligence. The appraisal supports the lender's collateral review. The real estate professional can help the buyer navigate contractual options within that role. The lender decides whether the property satisfies the requirements for the requested loan. One report should never be described as a substitute for the other.
Confirm important information at its source.
| Question | Start with | Why |
|---|---|---|
| What information has the lender reviewed? | Loan officer | The lender controls its review and conditions. |
| What does a contract deadline require? | Real estate professional or attorney | It concerns the purchase agreement and legal rights. |
| Can the requested loan work with the proposed date? | Loan officer | The lender can assess its process, not promise an outcome. |
| What condition did the inspector observe? | Inspector | The inspector can explain the report and scope. |
| What does the lender need after the appraisal? | Loan officer | The lender determines collateral and underwriting requirements. |
| Which funds and documents are due for settlement? | Title or settlement contact and lender | Both sides coordinate final figures and instructions. |
Wondering who handles what before closing? The Velvet Realty Group mortgage guide for homebuyers explains how a real estate professional and lender coordinate while remaining responsible for different parts of the purchase. Velvet Realty Group, brokered by LPT Realty, LLC, and REV Mortgage are separate businesses. You may select any brokerage and any lender, and using either is not a condition of using the other.
A shared fact can still need two confirmations. For example, a contract closing date comes from the purchase agreement, while the lender must separately assess the loan workflow. A property repair may affect the buyer's inspection decision, contract rights, insurability, appraisal conditions, or loan requirements in different ways. Ask each relevant professional rather than expecting one answer to cover every role.
Closing brings the purchase and mortgage together, with each professional handling a different part.
The CFPB describes closing, also called settlement, as the stage when the necessary mortgage and purchase documents are signed. For many financed purchases, the loan closing and transfer of the home happen at the same time. As reviewed on July 20, 2026, the CFPB's Closing Disclosure explainer says the lender must generally provide the disclosure at least three business days before the scheduled closing for covered transactions.
Use that review window. Compare the Closing Disclosure with the latest Loan Estimate, confirm that personal and property information is correct, and ask about changes. The CFPB also recommends requesting other closing documents in advance, including the promissory note, security instrument or deed of trust, and deed.
Final handoff checklist
- Ask the lender which loan conditions remain.
- Ask the real estate professional which contract tasks remain.
- Ask the title or settlement contact how to verify final funds and signing logistics.
- Use only independently verified wiring instructions and approved secure channels.
- Read before signing and ask the responsible professional about anything unclear.
Coordination should make the transaction easier to understand. It should never blur who made a statement, who controls a decision, or which professional is responsible for the answer.
Official sources used for this article
This article cites government sources for the rules and program details it summarizes. Source pages can change. Review the linked agency material and ask the appropriate professional to confirm how current requirements apply to your transaction.
- CFPB: What happens at mortgage closing?Defines closing and lists common transaction participants. Accessed July 20, 2026.
- CFPB: Review documents before closingExplains advance document review and comparison of the Closing Disclosure with the Loan Estimate. Accessed July 20, 2026.
- Freddie Mac: Understanding who's on your homebuying teamDescribes the buyer, real estate agent, lender, inspector, appraiser, and closing roles. Accessed July 20, 2026.
- CFPB: Schedule a home inspectionDistinguishes the buyer's independent inspection from the lender's appraisal. Accessed July 20, 2026.
- Texas Real Estate Commission: Third Party Financing AddendumIdentifies the current Texas form used when third-party financing provides some or all of the purchase price. Accessed July 20, 2026.
- CFPB: Closing Disclosure explainerExplains the final disclosure and the three-business-day review period. Accessed July 20, 2026.
Information reviewed: The primary sources cited in this article were checked on . This article provides general mortgage education and is not legal advice or a promise of loan approval. Read our editorial policy.