transfer of funds...

I've just sold my house in Virginia. I was not present at the closing as I gave power of attorney to my property manager.

I provided the title company with bank account information on where to send the funds after the loan was paid off. The title company took a little over a week to wire the funds to my account. The funds were just entered into my account today. The person I spoke(today) with at the title company indicated that the funds where wired last week, yet the federal reference number indicated that the funds were wired today (the day of my inquiry).

This means that the the title company floated the funds for a week. If a title company does this often enough, they could end-up with a tidy sum. Not to mention the interest that I've lost. To put perspective on this, note that the homes in this area of Virgina are very expensive.

I did receive a call from the representing attorney of the title company, who apologized saying that the person who handles payments was on vacation. I also mentioned to the attorney that I was told that the funds were wired last week.

I finally have my money in my acount, and this may just a fluke of somebody dropping the ball, but should I report this to somebody in Virginia? If yes, who in Virginia?

Thanks.

[HomeGuru]

Demand that the title company pay you interest on your money. If they refuse, report the problem to the State regulatory agency.