Subscribe to Answers
In my California market, I would contact the escrow company.
Ryan Huggins - Thousan...
Thousand Oaks, CA
Los Angeles, CA
Probably a bank holdup, if the funds were wired too late in the day, for example.
Candice A. Donofrio
Fort Mohave, AZ
No ..we close with the title companies and they provide a wire of when it is sent so the seller can track it. Not something I can control. The lender needs to provide the funding number and the okay for the escrow officer to disburse the funds. The escrow officer is the one they need to visit with.
I would immediately call the title company and ask what the problem is.
Praful Thakkar Have your seller call either the title company, or the attorney who closed the deal (depending upon who the closing agent was in the transaction).
Closing is beyond the scope of a real estate broker's / agent's ability to control and is in no way involved.
Therefore, the only people / person who can help a principal with regard to a closing-related issue is the closing agent.
Kenneth J. Jones
Toms River, NJ
Well, in my state I would call the attorney who would then check when the funds 'hit' at the title company.
I wouldn't know if it ever happened. In IL, we are out of that part of the transaction.
Call title agent and inquire as to when it was wired.
Nearly all my sellers get a check at closing, if one is to get wired, we close early in the day so it doesn not get "lost" on the wire.
Whoever handled the closing should be contacted. I doubt they would contact the agent since you never held the funds. There may be some legal issues here. A
Here I would suggest they contact the escrow company who disburses the funds. If funds were wired the next call seller should make is to their bank
That's not the issue for the real estate agent... I would advise the client to call their lawyer who handled the closing.. I know in the U.S. things are done differently, but here in Canada, the lawyer takes care of the closing and has the funds.
Ron and Alexandra Seigel
Tell them to call their bank because many times the deposits don't show up right away even though the funds were wired. I would also call title company
In our area I would call the title company - problem solved
Happens all the time in VA. I explain that funds are disbursed after the deed is recorded at the courthouse, then tell them I'll find out when that is happening and get back to them.
I contact the closer. I know that before we leave that the closer has the funds on hand. So they need to see what happened in the funds transfer to the seller
Praful Thakkar Call the settlement attorney to follow up.
I would be on the phone with the title company right away to track it down.
I have not had this happen, but one time it did take more hours than normal.
Funds wired can be delayed a day. Usually if the closing was in the afternoon,the wire may not have gone out. Most wires must be complete by 2:00 PM for them to reach a deposit account that day,but it does not always make it. His legal document is the HUD-1. He will be fine.
Immediately contact the closing company and verify the routing information. This has happened to us in the past regarding escrow deposits, but never for closing funds.
It would not have closed here in Tallahassee, if the Seller had not received their money yet.
No, has not happened. Having been in the banking world, I know it is possible for funds to be misdirected by mistake. It should be investigated and corrected. Usually, however, one would make sure the funds were in place before finalizing the transaction.
This hasn't happened to me. If it did I would be on the phone with the title company to see what happened. The local title companies handles recording and the transfering of funds.
Escrow would need to track down the wire.
Call the title company.
I would call the title company to find out.
I walk everything through way before they are scheduled to do so
It has happened. I ask them if they want to call the title company or should I?
Contact the closing agent, title company or attorney, to find out why. When the money is verified, the keys go to the buyer is my policy!
I would have them call the title company. I have had this happen one time; there were 3 recipients receiving disbursements and they entered one of the account numbers incorrectly. That's the only time it has happened to one of my settlements.
Wait a little longer. An international transfer can take 2 days but otherwise it may take a full business day or at least a couple of hours to complete. I like to see it in my account within 15 minutes though.
I'd advise them to call the attorney that represented them in the transaction.
Call the title company and let them figure out what happened.
Have them speak to the escrow company
I call the settlement attorney and ask them to track the wire. Wires do get delayed once in a blue moon.
Tell the client to contact his/her lawyer since the lawyer handles the closing.
I call escrow!
I am in a situation like this right now. A buyer agreed to funds from seller at close of escrow. This wasn't included in escrow and the seller refuses to give the buyer the money. Big mistake not getting an addendum. The buyer wants to report them, their agent feels no responsibility. It is out of my hands unless I decide to give them the money. Just waiting it out for now.
Put it all on black, baby! LOL! Seriously, contact the title company.
Call the Closing attorney. They'll trace the wire.
Call the title company.
Time to make some quick phone calls, the title company that handled the closing is the first one.
Escrow officer immediately. You need to make sure the funds went to the right account.
I had to keep calling the attorneys office who held the closing (of course that attorney worked for the bank who the buyer used to close) and my seller and my sellers attorney mentioned a bunch of times at the closing that the funds are needed for the close of another property the next day. I had to sit at the registry the next day until the attorneys office released the funds which should have been done the night before. It took a couple of hours calling the attorneys office before the funds were available. It all worked out but the funds should have been available the first thing in the morning.
One day after? When did the wire go? It's not instantaneous. What did escrow say as far as ETA for receipt? Get confirmation of wire send from escrow, send to seller, tell them to take a seat. LOL
Cannot happen in Oklahoma, we are table funidng and unless all funds are there and accounted for it doesn't close.
Contact escrow and see what the delay is. It has not happened to us.