Last Updated on May 19, 2022 by Kathy Rukat Smith
Closing is here and you can see the finish line! The last steps of closing are turning over the keys to the new homeowner and getting the proceeds from the sale of your home. You may be wondering…”when do sellers receive money after closing?”
Closing Timeline Review
Let’s review the closing timeline. Closing paperwork is signed by the buyers and sellers. The buyers’ attorney collects all funds for the closing and the Deed is recorded at the Register of Deeds office.
When Do Sellers Receive Money after Closing?
The proceeds from the sale of the sellers’ home is released at one of two times. Money can be released either once all paperwork is signed and funds are received if the buyers’ attorney practices table funding or once the Deed is recorded. Typically, sellers will receive their proceeds the same day as they sign their closing paperwork or the next business day.
How Do You Receive Your Money?
Most attorneys will provide you with several ways to receive your proceeds. You can either pick up a check if you are in town, have your check overnighted to you or have the money wired directly to your checking or savings account. Whether you are in town or out of state, I recommend wiring your money to your checking or savings account. You will receive the money quicker and your bank will not place a hold on the funds.
Contact me with any questions about buying or selling in Murrells Inlet or the surrounding area or with questions about living at the beach. You can also find links to all of my social media and sign up for my weekly newsletter on my Linktree page.