fund distribution after closing

[fbt607]

Is this your first sale as a real estate broker?

When you were asked how funds were to transferred you said check. But that is only the last step. They first have to be wired to the lawyer.

Have you contacted the entity that was supposed to initiate the wire?

it was wired to the lawyer but the wire yet did not go thru that's why he did not distribute the fund. I've done deals before but never encountered this thsts why I'm concerned

 

[PayrollHRGuy]

it was wired to the lawyer but the wire yet did not go thru that's why he did not distribute the fund. I've done deals before but never encountered this thsts why I'm concerned

Receiving banks generally don't sit on wires. (Says guy who receives about 30 wires into 2 different banks from probably 20 different banks every week.)

 

[Zigner]

It sounds like there was a clerical error somewhere. I wouldn't be super concerned just yet. I think I'd give it 3 business days before I got super excited about it.

 

[fbt607]

It sounds like there was a clerical error somewhere. I wouldn't be super concerned just yet. I think I'd give it 3 business days before I got super excited about it.

heard back and you are correct. there was delays because the buyer has a very common name. went thru finally.

 

[Zigner]

Great news - now enjoy the weekend