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Old 04-11-2017, 10:39 PM
 
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Just wondering when does the bank actually transfer the money to my account? Does it take a lot of time or does it go in on 5/1?
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Old 04-11-2017, 11:04 PM
 
Location: Just south of Denver since 1989
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Depends on the state and the time of funding.
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Old 04-11-2017, 11:07 PM
 
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it's in CA
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Old 04-11-2017, 11:08 PM
 
Location: Just south of Denver since 1989
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Quote:
Originally Posted by cis_love View Post
it's in CA
You will have the money when escrow closes.
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Old 04-12-2017, 04:11 AM
 
Location: Ocala, FL
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It also depends on how soon the bank will make the funds available to you. Most banks will sit on deposits over a certain $$ amount before releasing those funds.

In my state of Florida, a check or a direct deposit is provided to the seller on the day of closing under normal circumstances.
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Old 04-12-2017, 04:21 AM
 
Location: San Diego
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Quote:
Originally Posted by cis_love View Post
Just wondering when does the bank actually transfer the money to my account? Does it take a lot of time or does it go in on 5/1?
The bank doesn't, escrow will wire it usually the next day or you can pick up a check at their office.
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Old 04-12-2017, 05:26 AM
 
Location: Back in the Mitten. Formerly NC
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It can really depend. When I closed on my home a few weeks ago, the sellers walked away with a check.
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Old 04-12-2017, 06:26 AM
 
Location: Over yonder a piece
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In the cases of walking away with a check - be aware that a check of a large sum will take several days to clear when you deposit it. They may give you a portion up front ($1000) but the rest will take a while to actually make it into your account.
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Old 04-12-2017, 06:50 AM
 
Location: Georgia
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Have the closing company/attorney/title company wire your funds.to your account. That's the fastest way to access your funds. That way, depending on the time of day you close, you may have it the same day.

Last edited by dblackga; 04-12-2017 at 07:58 AM..
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Old 04-12-2017, 01:34 PM
 
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I'd call the closer if it took too long. I once sold a house and they didn't fund for weeks. Turns out the lender was just using my money for a couple of weeks. I had to call the courthouse because they kept telling me and the buyer the check would come when the county posted the deed or some BS.
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