Home Selling in San Diego>Question Details

Alsfairandsq…, Home Buyer in Valley Center, CA

Where's my money from the sale of my house 4 days ago?

Asked by Alsfairandsquare, Valley Center, CA Tue Apr 22, 2014

We closed on a house (as sellers) in CA on Friday, April 18--a bank holiday. Told we are getting our proceeds into our account today (Tuesday the 22nd). Does this make sense? Closed on our new TX house Thursday--we received keys 2 hours after signing papers, as they said we wait until money was sent to buyer.

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The agent usually has the keys in his/her possession- so they can hand them to you immediately upon receiving confirmation of closing. But the proceeds are usually wired, and we are, unfortunately, at the mercy of the banks and their cutoff times for sending/receiving wires.
0 votes Thank Flag Link Wed May 28, 2014
Hi Alsfairandsquare,

The delay was not out of the ordinary when you take into consideration the holiday on Friday the 18th. Your wire was most likely sent on Monday the 21st and should have hit your account by Tuesday the 22nd. Congrats on your new home in Texas.

Warmest Regards,

0 votes Thank Flag Link Wed Apr 23, 2014
Call the escrow officer directly to find out where your money is -
0 votes Thank Flag Link Wed Apr 23, 2014
Hi Al,
I agree. This is a lengthy amount of time. Typically, the wire should have been ordered yesterday for same day delivery to you.

No use in comparing Texas to California though. We have two completely different closing systems!

?Sinead McAllister-Clifford
Real Estate Broker/ RealtorĀ®

McAllister Homes Real Estate
Residential Sales & Property Management
License 01366009
858-205-5215 CELL
info@mcallisterhomes.com EMAIL
0 votes Thank Flag Link Tue Apr 22, 2014
I understand your frustration!! Call your agent and ask them to follow up with the Escrow Officer and ask what is causing the delay. As stipulated by the other agents, the holiday can delay the wire by a day, and the federal reserve system through which wires are processed/sent does not function over the weekend. I would expect the funds to hit your account today or tomorrow at the latest. Have your agent follow up. Best of luck to you.

To gain insight as to who I am, how I conduct myself and how I take great care of my clients, please refer to my recommendations on Trulia.

Very Respectfully,

Neal I. Akin - Realtor
The Akin Real Estate Team
Coastal Premier Properties
BRE# 01812949
0 votes Thank Flag Link Tue Apr 22, 2014
Your question would honestly be best directed to your escrow company!!!
0 votes Thank Flag Link Tue Apr 22, 2014
If you asked that the proceeds to be wired, the money could not be sent on Friday because of the holiday. It the money was wired on Monday, it should be in your account today. If you asked that the proceeds be sent to you in a check, it may still be in the mail.
Good luck,
0 votes Thank Flag Link Tue Apr 22, 2014
That money should have left the escrow company within hours! Either they should have had a check for you or wired the money to your bank account. Days and Days is not acceptable.

Lisa Wetzel and Jim Valentine

Certified Distressed Property Expert, CDPE
RE/MAX Realty Affiliates
1320 Hwy 395
Gardnerville, NV 89410
775-781-5472 Lisa
775-781-3704 Jim
775-781-3703 Jessie
0 votes Thank Flag Link Tue Apr 22, 2014
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