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, usually at the closing table after the closing has funded and 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

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 day or a wire can be sent out (for a fee) as soon as the closing is over (wire cutoff is 4:00 pm) and is usually received within 1 to 2 hours of confirmation it was sent. Please note that most banks put holds on checks over $1000-$2000. If this occurs, we cannot change it to a wire, you would need to request that your bank remove the hold.

Of course, if you are out of town, the check can be mailed, so you should estimate a few extra days to receive it.

If you’d like to receive the funds very quickly, it might be a good idea to choose to receive a wire and 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. Earlier closing times will allow the funding at the table so checks and wires can be sent out before the wire cutoff time of 4 pm.

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 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.