Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
On the last two closings I was involved with (one as a buyer of property and one as a seller of property), the wire transfers were required to be in the Title Company's hands several days prior to the closing. That way, the Title Company could be sure that the transfer of money had been completed from the buyer's bank to the Title Company's account. Then a check was issued from the Title Company to the seller at the closing. Immediately after the closing, I took my check a few blocks down the street and deposited it in my bank.
I don't think I would have been OK with the Title Company telling me that I'd get a check in about 5 days. If they told me that, then I would have told them, "OK, then I'll sign the deed when you're ready to hand me the check."
On the last two closings I was involved with (one as a buyer of property and one as a seller of property), the wire transfers were required to be in the Title Company's hands several days prior to the closing. That way, the Title Company could be sure that the transfer of money had been completed from the buyer's bank to the Title Company's account. Then a check was issued from the Title Company to the seller at the closing. Immediately after the closing, I took my check a few blocks down the street and deposited it in my bank.
I don't think I would have been OK with the Title Company telling me that I'd get a check in about 5 days. If they told me that, then I would have told them, "OK, then I'll sign the deed when you're ready to hand me the check."
Yeah, that's the way we're feeling! I need to find out who the Title Company is, track them down, and ask them...
Yeah, that's the way we're feeling! I need to find out who the Title Company is, track them down, and ask them...
Yep, you want your check to come from the Title Company's escrow account with the principal lawyer's signature on it, not from Joe Buyer's checking account or his money order from XYZ Financial Company which is just a post office box for a company in the Bahama's.
When I sold my house, we closed in the morning and the funds were wired the same day as closing. But if your closing is late in the day, you may miss the cut off for same day wires and the funds may go the next day.
OP, what day of the week and the time that you closed ?? If it were later afternoon on a Friday, might delay processing until the next Monday. Any new updates ??
OP, what day of the week and the time that you closed ?? If it were later afternoon on a Friday, might delay processing until the next Monday. Any new updates ??
I try to never close on a Friday if possible. If something goes wrong with the lender and Funding, a Buyer may not get the house until Monday. We almost never release keys until the loan is funded.
And that's tough when you have movers showing up on a Saturday.
Never close on a Friday, the last day of the Month and the day before a Holiday. It's really bad if all 3 are the same day.
I try to never close on a Friday if possible. If something goes wrong with the lender and Funding, a Buyer may not get the house until Monday. We almost never release keys until the loan is funded.
And that's tough when you have movers showing up on a Saturday.
Never close on a Friday, the last day of the Month and the day before a Holiday. It's really bad if all 3 are the same day.
I try to schedule closings on Wednesdays or Thursdays when possible for this reason. If it's delayed, you get pushed to Monday. You try to close on a Monday, that means everything needs to be ready by end of day Friday. Both are tough.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
