Funding

Funding

Selling a house can be an exciting time. One of the most common questions we get is “when will I get my check?

This is understandable as there has been a lot of work and patience to successfully get to this point of a transaction. Plus, who doesn’t like a payday!

WHEN WILL I GET PAID?

We make every effort to pay you quickly, oftentimes the answer is the same day the transaction closes. However, this can vary based on the day or time of day the closing occurs. For example, most banks aren’t open after 5 or 6 pm and are closed on weekends.

That said, here is when you can expect to be paid:

All proceeds are send immediately after we receive lender authorization on finance purchases and immediately after closing on cash transactions. We make every effort to make all payments after closing within 24 hours after closing.

Of course, if you are out of town, the check will be mailed, so estimate the appropriate extra time to receive it.

If you’d like to receive the funds very quickly, it might be a good idea to select a Monday-Thursday closing date. This way you shouldn’t have to wait until the following week if banks or offices are closed.

PAPER CHECK VS WIRE TRANSFER

It is often assumed that Wire Transfers are faster than receiving a paper check. However, this isn’t always true. Wire transfers sometimes require more verification and approvals (due to cyber fraud) and as a result may even take an extra 24 hours to receive the funds. We prefer to wire proceeds but in the case you require a check, please keep in mind your bank may put a “hold” on a check before the money becomes available to you.