we are closing on our home we sold tomorrow.
2007-12-27 05:23:44 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You should receive a certified check AT the closing. As soon as all the paperwork is signed.
I hope that helps.
2007-12-27 05:29:13 · answer #1 · answered by Michael K 5 · 1⤊ 0⤋
Your check should be available at the settlement table.
Settlement works this way. The buyer's lender should wire the money to the settlement company prior to the time of settlement. Any additional monies that the buyer needs to bring is in the form of cerified funds that the buyer brings with them.
The settlement company will complete the settlement and then pay everyone at the table.
Sometimes, signing the paperwork may happen BEFORE the actual wiring of the money. This is OK, provided that the keys are NOT given to the buyer until the funds are received at the settlement company.
I'm guessing that tomorrow will be VERY busy (last day of month and last day of year). I would sign all the paperwork at the appointment and if the funds were not there, just wait until they are wired and then pick up the check and give the keys.
2007-12-27 14:50:30 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Call ahead to the escrow/title company / closing attorney and insist the closing be funded while you are at the table, and that you receive a valid cashier's check for your proceeds before you leave. No check, no closing. Don't sign anything until the check is right in front of you and for the proper amount.
Dry closings have started too many nightmares to recount them here.
2007-12-27 13:38:45 · answer #3 · answered by DEACTIVATED 4 · 0⤊ 0⤋
Depending on your state laws and the lender dis pursing funds you could have your check same day or Monday.
Your buyer and all interested parties must have all their ducks in a row (re: PTF prior to funding conditions). These conditions can range from documents that were not fully executed at the closing table to.... funds that your buyer may need to bring in. Some states are call "wet" states which means they will fund loans the same day if closing occurs early enough. Lenders such as Wells Fargo will send funds at the same time the docs are sent to perform same day closing. Good luck to you
2007-12-27 13:33:56 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Yes, I would advise that you make sure funds are there tomorrow for you.
You will be signing over the deed to your house, so you want to have your check in hand at closing.
2007-12-27 13:40:44 · answer #5 · answered by Matt K 4 · 0⤊ 0⤋
If you are a wet state then you should be funded at the table. If not then 24 hours later you will be funded. On All refinances you will be funded 4th business day after signing.
2007-12-27 13:34:33 · answer #6 · answered by golferwhoworks 7 · 1⤊ 0⤋
On a purchase. Same day !
2007-12-27 17:28:52 · answer #7 · answered by sly2bfox 1 · 0⤊ 0⤋
You should have it in hand when you walk out.
2007-12-27 13:30:45 · answer #8 · answered by john b 3 · 0⤊ 0⤋