Hello Surferdude and thanks for your question.
Unless your Realtor called in a panic, and I'm assuming that this has not happened, I would not be alarmed. In California, there is a slight delay of one or two days after both parties have signed, and the transaction has "recorded" at the County Recorder's office before funds are distributed to the Seller and any other parties. Under normal circumstances, you should see the proceeds from the sale credited to your account in a few days or a check from the title or escrow company made payable to you in a day or two. Funds are not immediately transferred to you upon close, so please do not misinterpret the lack of funds in your bank account as the failure of the buyer to consummate the sale.
If you have any questions about whether the sale closed as scheduled, contact your Realtor for more information.
I hope this answers your question and wish you and your family good luck in your next real estate transaction!
Grace Morioka, SRES, e-Pro
Area Pro Realty
San Jose, CA