When Will I Get My Check From My Title Company?
This is understandable as there has been a lot of work and patience to get the transaction done. Plus, who doesn’t like pay day
When will I get paid?
We make every effort to pay all of the parties involved quickly, oftentimes the same day the transaction closes. However, this can vary based on the day or time of day the closing occurs. For example, most banks aren’t open after 5 or 6 pm and are closed on weekends.
That said, here is when you can expect to be paid for your closing or your commission if you were part of helping a transaction become a done deal:
Sellers & Realtors
If you are owed net proceeds from the sale of a house, or a commission as Realtor, you can usually expect a check to be cut the same or next business day.
Of course, if you are out of town, the check will be mailed, so estimate an extra day or two to actually receive it.
If you’d like to receive the funds very quickly, it might be a good idea to select a Monday-Thursday closing date. This way you shouldn’t have to wait until the following week if banks or offices are closed.
Paper Check vs Wire Transfer
Wire transfers are a secure and reliable way to send money. They offer the convenience of transferring funds quickly and securely. With wire transfers, you can move large amounts of money from one bank account to another. While with an escrow check, due to the large amount, sometimes depending on the bank, it can take up to 14 business days for the check to clear and appear in your bank account.
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