Yes they will put a hold on that check!

Reblogger Praful Thakkar
Real Estate Agent with eXp Realty

Do you have a checklist for your buyers

that includes this fact that ---

Money should be available on the day of closing!

-------------

Great point in this re-post from

Surprise Arizona Realtor Jim Braun Sun City Grand Active Adult Communities.

-------------

Yes they will put a hold on that check!

Homes for sale Surprise Az

Your all ready to close and move in to your new home and everything is in place. Hold the phone! You had the checks from the company holding your portfolio sent to you and you are going to deposit today so they can wire funds tomorrow. Well that is great.

When told banks will hold those checks until they clear and that can take from 5 to 7 days they are serious.

Do they care you have been a customer at their institution since 1928? No!

Do they care that your brother works for them? No!

Do they care that you are suppose to close on your home in 2 days and title needs the funds? No!

 The point being they will put a hold on the check and you won't be closing on time. When you are depositing a check from one institution to another no matter how big or small the company, your bank will put a hold on the check until funds are cleared.

So make sure to get the check to your bank in time for it to clear so you can close on time.

 

 

 

 

 

 

 

 

Sun City Grand homes for sale

Surprise AZ homes for sale

Sun City West homes for sale

Sun City homes for sale

Sun City Festival homes for sale

Surprise AZ homes for sale

If you need information on any homes for sale, FREE market valuation on your home, or any other Real Estate information contact Jim Braun. 

Jim Cell:623-693-8840

 Email: jbraun001@cox.net

Website: http://www.azmoves.com/jim.braun

http://www.jimbraunrealtorsurpriseaz.com

Coldwell Banker Residential Brokerage Jim Braun

 

I am Jim Braun, I live in Sun City Grand and a Realtor in Surprise AZ & the Phoenix West Valley with Coldwell Banker Residential Brokerage . I specialize in Phoenix AZ active adult & all communities in the Phoenix West Valley - Surprise, Peoria, El Mirage, Youngtown, Litchfield Park, Waddell, Goodyear, Buckeye, Wittmann, Sun City Grand, Sun City West, Sun City, Corte Bella, Traditions, Trilogy, Pebble Creek and Sun City Festival. I am the 2009 West Maricopa Association of Realtors Rookie of the Year and multi-million dollar producer for 2009,2010, 2011, 2012, 2013, 2014, 2015.CBRB Diamond award WEMAR 2015 Silver certificate winner & WEMAR Presidents round table award winner. I will work hard to assist you with your Phoenix West Valley AZ real estate wants and needs as a Buyer or Seller.

 www.azmoves.com/jimbraun

http://jimbraunrealtorsurpriseaz.com

                   

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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Praful

Yep I sure do, and I talk right up front with buyers about making sure they have the necessary money available immediately if they want to make an offer. Who wants a bounced check when you are opening escrow on a new contract? Sellers won't take kindly to that!

Jeff

Mar 20, 2017 08:53 PM #1
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

We do not have issues like this in CA, three to five days prior to Close of Escrow the Buyer has to Wire in the funds...period...Endre

Mar 20, 2017 09:19 PM #2
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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Most of our buyers are wiring in funds. That avoids any problems with personal checks and not being ready to close, Praful.

Mar 21, 2017 06:30 AM #3
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1,048,639
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Funding is something that can't be stressed enough, Praful Thakkar ... and something that I try to plan and orchestrate along with my clients prior to Closing.  If monies must be moved at any point in the process, they typically must be moved on a timely basis to not slow the process down. Banking and transferring of funds moves at its own speed ... and has its own timelines.  It's best to not forget that ...

Gene

 

Mar 21, 2017 09:51 AM #4
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Andover, MA: Andover Luxury Homes For Sale
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