Final answer:
The primary role of the listing broker in the preparation of closing is to facilitate communication among parties and ensure smooth progression towards the closing date. Additionally, they may help manage the Escrow process, which covers home insurance and property taxes through a neutral third party included in monthly payments.
Step-by-step explanation:
The listing broker's role in the preparation of the closing is normally facilitating the closing by communicating with the parties. They act as a liaison to ensure that all parts of the real estate transaction are coordinated and that all necessary steps are taken to reach the closing date. This can include the coordination of various parties such as buyers, sellers, lenders, and attorneys to ensure all contractual obligations are met.
In the context of Escrow, the listing broker may help oversee that funds are correctly deposited with a neutral third party, which subsequently handles the payment of expenses such as home insurance and property taxes. The escrow process adds convenience for the homeowner by incorporating these payments into a monthly payment, rather than dealing with separate and potentially multiple transactions.