When Will I Get My Check From My Title Company?

When Will I Get My Check From My Title Company?

Selling a house or helping someone buy or sell their home if you are a Realtor, can be an exciting time. One of the most common questions we get from Realtors and home sellers alike is “when will I get my check?”

This is understandable as there has been a lot of work and patience to get the transaction done. Plus, who doesn’t like a payday!

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 5:00 and have a wire cutoff time at or around that same time.

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 your check to be cut or your wire transfer to be sent the same or next business day.

Of course, if you are out of town, a wire would be your best option however we can also over-night your check.

If you’d like to receive the funds very quickly, it might be a good idea to select a Monday-Thursday closing date rather than a Friday. This way you shouldn’t have to wait until the following week in the event a same day funding is not possible.

Paper Check vs Wire Transfer

It is often assumed that Wire Transfers are faster than receiving a paper check. However, this isn’t always true. Wire transfers sometimes require more verification and approvals (due to cyber fraud) and as a result may even take an extra 24 hours to receive the funds. Also keeping in mind that often times checks, in large amounts, can be placed on a temporary hold, depending on your bank’s rules and regulations.