At a dry closing, does the seller sign over their ownership without receiving their check right away?
2007-12-27 12:16:41 · 4 answers · asked by Matt K 4 in Business & Finance ➔ Renting & Real Estate
When I get involved in a 'dry closing' (which I really loathe), as the real estate representative of the seller, I insist on holding that part of the paperwork until I can pick up the proceeds check for the sellers involved.
I refuse to risk a possible title transfer without funding.
2007-12-27 12:23:08 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
i have seen it done both ways, the seller has the right to hold back on the deed till the funds are made available, if the seller is comfortable, they might sign over to you if they are sure the funds will be there. dry closings are rare what caused the delay in transferring the funds, not a usual situation.
2007-12-27 20:23:14 · answer #2 · answered by donald e 4 · 0⤊ 0⤋
Title company or attorney not about to transfer title till they have funds to close the transaction. Signed deeds come back from out of state sellers all the time, held by closing agents until all is in order.
2007-12-27 20:50:26 · answer #3 · answered by tampabaycreditdoctor 3 · 1⤊ 0⤋
Why are the funds not there. I would delay settlement until the funds are available.
Are they planning to move in?
2007-12-27 21:00:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋