Question Details

Evelyn, Home Buyer in Oxnard, CA

when you sell your home and made a gain who gives the check? escrow or the mortgage company the seller has?

Asked by Evelyn, Oxnard, CA Mon Mar 18, 2013

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You should get your funds from escrow. When you sell, escrow collects the purchase funds from the buyer and/or the buyer's lender. Escrow pays off any commissions and then your escrow and title costs. Next, escrow pays off your remaining balance with your mortgage company and any other outstanding liens. Finally, any remaining funds will be sent to you by check, unless you instructed the escrow company to wire the funds directly to you.
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