Legal Question in Real Estate Law in North Carolina

We closed on our house yesterday morning at 9:00 am. We were informed by the settlement attorney that funds for the settlement of the house would not be available until 4:00 pm that day, and that we could have the money wired to our bank at that time. I woke up this morning (next day) and have not seen the funds in my bank account yet. Is this an acceptable practice on the closing of house, and if I continue to be without receipt of these funds ($60,000+) what legal recourse is available to me, should I need to pursue this further?


Asked on 8/09/11, 5:05 am

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

At this point, I would just wait - chances are you will get it today.

A settlement agent may not disburse funds until he has received all funds he needs and has updated title and recorded. So if he didn't receive the wire from the lender until late in the afternoon, the attorney may not have been able to record and wire by the end of the day. I would simply call the attorney's office and ask what the status is. You can also check the register of deeds office to see if the deed has been recorded. If it has, that means the attorney should be ready to disburse.

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Answered on 8/09/11, 5:25 am


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