Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
2,880,151
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

In my California market, I would contact the escrow company.   

Jan 09, 2017 04:37 PM
Rainmaker
685,897
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Probably a bank holdup, if the funds were wired too late in the day, for example.

Jan 09, 2017 02:57 PM
Rainmaker
3,410,669
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

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.

Jan 09, 2017 07:28 PM
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I would immediately call the title company and ask what the problem is.

Jan 09, 2017 05:42 PM
Rainer
267,550
Ken Jones Commercial Real Estate
VRI Realty, Inc. - Metuchen, NJ
Automotive & Industrial Real Estate

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.

Jan 09, 2017 05:19 PM
Rainmaker
1,372,230
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

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.

Jan 09, 2017 04:38 PM
Ambassador
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Anna Banana Kruchten CRB, CRS, Broker
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Call title agent and inquire as to when it was wired.

Jan 09, 2017 04:12 PM
Rainmaker
2,637,409
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

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. 

Jan 09, 2017 03:53 PM
Rainmaker
3,723,410
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

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

Jan 09, 2017 03:16 PM
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

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

Jan 09, 2017 03:15 PM
Rainmaker
532,006
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

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.

Jan 09, 2017 03:06 PM
Rainmaker
648,514
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

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

Jan 09, 2017 02:53 PM
Rainmaker
731,872
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

In our area I would call the title company - problem solved

Jan 10, 2017 06:48 AM
Ambassador
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

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.

Jan 09, 2017 06:40 PM
Rainmaker
3,584,376
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

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

Jan 09, 2017 05:37 PM
Rainmaker
1,325,662
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Praful Thakkar Call the settlement attorney to follow up.

Jan 09, 2017 03:03 PM
Rainmaker
2,582,981
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I would be on the phone with the title company right away to track it down.

 

Jan 11, 2017 09:46 AM
Rainmaker
3,522,127
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have not had this happen, but one time it did take more hours than normal.

Jan 11, 2017 08:39 AM
Rainer
48,413
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

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.

Jan 11, 2017 08:38 AM
Rainmaker
1,424,255
Sandy Padula and Norm Padula, JD, GRI
Realty National - Carlsbad, CA
Presence, Persistence & Perseverance

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.

Jan 11, 2017 07:10 AM
Ambassador
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Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    It would not have closed here in Tallahassee, if the Seller had not received their money yet.

Jan 10, 2017 07:12 PM
Rainmaker
665,979
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

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.

Jan 10, 2017 05:26 PM
Ambassador
2,183,202
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

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. 

Jan 10, 2017 03:14 PM
Rainmaker
1,067,771
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Escrow would need to track down the wire.

Jan 10, 2017 08:53 AM
Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Call the title company.

Jan 10, 2017 08:22 AM
Rainmaker
224,637
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

I would call the title company to find out.

Jan 10, 2017 08:02 AM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I walk everything through way before they are scheduled to do so

Jan 10, 2017 07:49 AM
Rainmaker
4,247,032
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It has happened.  I ask them if they want to call the title company or should I?

Jan 10, 2017 06:33 AM
Rainmaker
2,645,402
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

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!

Jan 10, 2017 06:23 AM
Rainmaker
977,411
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

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. 

Jan 10, 2017 05:38 AM
Rainmaker
860,109
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

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.

Jan 10, 2017 04:43 AM
Rainmaker
520,743
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

I'd advise them to call the attorney that represented them in the transaction.

Jan 10, 2017 04:32 AM
Ambassador
1,905,569
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Call the title company and let them figure out what happened. 

Jan 10, 2017 04:30 AM
Rainmaker
2,926,422
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Have them speak to the escrow company

Jan 10, 2017 04:28 AM
Rainmaker
2,387,872
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I call the settlement attorney and ask them to track the wire. Wires do get delayed once in a blue moon. 

Jan 10, 2017 03:59 AM
Rainmaker
1,156,424
FN LN
Toronto, ON

Tell the client to contact his/her lawyer since the lawyer handles the closing.

Jan 09, 2017 11:19 PM
Ambassador
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I call escrow!

Jan 09, 2017 10:41 PM
Rainmaker
478,117
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

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.

Jan 09, 2017 09:32 PM
Rainmaker
525,865
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

Put it all on black, baby! LOL! Seriously, contact the title company.

Jan 09, 2017 08:44 PM
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Call the Closing attorney. They'll trace the wire.

Jan 09, 2017 07:08 PM
Rainmaker
4,599,035
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Call the title company.

Jan 09, 2017 07:02 PM
Ambassador
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

call title

Jan 09, 2017 06:55 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Time to make some quick phone calls, the title company that handled the closing is the first one.

Jan 09, 2017 06:46 PM
Rainmaker
862,763
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Escrow officer immediately. You need to make sure the funds went to the right account.

Jan 09, 2017 05:12 PM
Rainmaker
124,371
Suzanne Cutler
Success! Real Estate - Braintree, MA
617-549-5829, Braintree MA, Realtor, Real Estate

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.

Jan 09, 2017 03:48 PM
Rainmaker
565,106
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

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

Jan 09, 2017 03:21 PM
Ambassador
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Cannot happen in Oklahoma, we are table funidng and unless all funds are there and accounted for it doesn't close.

Jan 09, 2017 02:58 PM
Rainmaker
286,007
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Contact escrow and see what the delay is.  It has not happened to us.

Jan 09, 2017 02:44 PM