When exactly do I get the money?

Question

Turnrow Capital · Accepted Answer

Funds wire on the day of closing or the next business day after, once the title company confirms all documents are signed and, in most states, the deed of trust is released to record. On a purchase the seller is paid through escrow; on a refinance or cash-out, proceeds wire to your account.

The sequence on funding day: the lender wires the full loan amount to the title company's escrow account, the title company balances the settlement statement, pays off any existing liens, deducts closing costs, and disburses. Business-purpose land loans have no federal three-day rescission wait, which is one more way they close faster than consumer loans.

Wires initiated before your title company's cutoff — typically midday — arrive the same day; after cutoff, the next morning. Confirm wire instructions by phone with your title company using a number you found independently, never one from an email. Wire fraud targeting real estate closings is real, and a verified phone call costs two minutes.

For purchases with a hard deadline — a contract closing date, a 1031 exchange window — build the wire timing into the schedule rather than treating signing day and funding day as automatically identical. Your closing coordinator will tell you which day the money actually lands.