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(727) 392-5906
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(727) 399-9790
8640 Seminole Blvd., Seminole, FL 33772

Receiving Your Money From The Sale

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iStock_000000407052SmallMany home sellers are due substantial money from the proceeds of a sale or are very concerned about having the money in their account as soon as possible.  Be cautioned that, due to widespread terrorist activities and illegal money-laundering, banks are universally more cautious about large monetary deposits. It is not uncommon for Banks to place as much as a 10-day hold on all deposited checks, even "Cashier's Checks" issued from another local bank.

 

If the timeliness of receipt of the proceeds from the sale of property is a priority, the seller should discuss with their assigned closer the possibility of arranging a "wire transfer" of funds to the appropriate account. Even though wire transfers to the larger banking institutions could take as much as one to two days to reach a local account, it is usually quicker than the manual check process.

 

There is a nominal charge imposed by both the sending and receiving institutions for wire transfers. Seminole Title Company collects $15 per transaction as reimbursement for its bank imposed charge to send a wire transfer.

For Sale By Owner

STC offers For Sale By Owner information kits designed to help you through the process. 
If you would like a kit mailed to you, please call or send us an email.

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