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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 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 & Realtors
When it comes to receiving proceeds or commission payments after a real estate closing, both wire transfers and paper checks are commonly used, with disbursements typically made the same day or by the next business day. Wire transfers offer the advantage of speed and convenience—once initiated, funds usually post to the recipient's account within one to two hours. This can be especially helpful when quick access to funds is important. However, wire transfers may incur bank fees for either the sender or recipient, and they require accurate account information to avoid delays. On the other hand, paper checks may be preferable for those who do not want to share banking details, and they often do not involve direct bank fees.
However, checks must be physically delivered and deposited, which can introduce delays depending on processing times and banking hours. Ultimately, the choice between a wire transfer and a paper check depends on individual preferences regarding speed, cost, and convenience.
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.
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