Home Selling in Houston>Question Details

Brandiandy, Home Seller in Pennsylvania

I own my home outright and plan to sell.I wont have cash until home is sold..can i write a check? PA

Asked by Brandiandy, Pennsylvania Tue May 22, 2012

Meaning... will I be required to have Bank counter check at closing for comisions and closing or may I write a check for amount and it will come out when the money is put into my account? Thank you...When I bought my home I paid cash and had to get a bank check...not sure how this works if someone gets a loan

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Answers

6
Your closing cost, including Realtor commissions, will come out of your proceeds on the sale of your home. Typically here in Texas, the Realtor does not collect any fees from the seller upfront.

You may have to pay for some repairs prior to closing if that is discovered, but other than that you will be GETTING a check back!! Not writting one!

Good luck with the sale!

Mark McNitt
m 832-567-4357
Bernstein Realty
1 vote Thank Flag Link Tue May 22, 2012
I've notice from your question that you are in Pennsylvania. So far realtors answering your question are in Texas. Their answers are correct for home sales/closings in Texas.

Here's hoping sellers and buyers in Pensylvania have individaul representation in the real estate market. Here we do all we can to answer questions for our clients so they are well informed on the complete transaction from start to finish.

Please get professional assistance in your state of residence in listing and selling your home. Less headaches for buyer and sellers!

B. Peavy
PV Properties
http://www.har.com/PVProperties
1 vote Thank Flag Link Tue May 22, 2012
Today most lenders want the money wired from your bank to title company before the closing.....
At the very least they will require a cashiers check issued by your bank, so the money needed needs
to be in your account before the date of closing on your new home.

Therefore sell first then buy, or at the very least work with an experienced Realtor and real estate attorney to have the right terms in your new contract to protect yourself if for any reason the sale on your home does not close.

REMEMBER A HOME IS NOT CLOSED UNTIL MONEY AND KEYS CHANGE OWNERS AT THE CLOSING TABLE UNTIL THEN ANYTHING CAN HAPPEN....

Please make sure you work with experienced professionals in your area, if you need recommendations get back to us.


Edith YourRealtor4Life! Working always in the very BEST interest of her clients
with @Properties covering the city of Chicago, N and NW suburbs of N. Illinois, and the
fine homes on the North Shore - and with partner agents all of the US and properties worldwide
EdithSellsHomes@gmail.com
0 votes Thank Flag Link Thu May 24, 2012
Funds are dispersed by the title/escro company. Attorneys can do the job also. Its sort of like the a lender giving a suitcase full of cash to the buyer. The buyer gives it to the title company who portions of it to the various parties. You will get most of what's in the suitcase. The Realtor(s) will get some. The title company will keep a little. If there is a Home Owners Warranty, they will get some ... and so on. Each "stack of cash" will be itemized on the Settlement Statement at closing so there is a record of who gets what. However instead of cash ... wire-transfers, checks and cashiers checks are used.
0 votes Thank Flag Link Wed May 23, 2012
You should not have to bring any money to closing. Commissions and closing costs will be paid from the proceeds of the sale.
0 votes Thank Flag Link Tue May 22, 2012
All costs should come out of the proceeds of the sale. Hopefully you sold high enough to cover your costs. Your Realtor and Title Company should both have the answer before closing....
0 votes Thank Flag Link Tue May 22, 2012
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