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Updated almost 5 years ago on . Most recent reply

User Stats

207
Posts
31
Votes
Mak K.
31
Votes |
207
Posts

Closing Issue- Need help

Mak K.
Posted

Closing my first deal. I am going to buy cash. Here is the situation:

My closing is on Monday.

I am still waiting on the state to give me LLC formation paperwork. If I go with assumption that I get it on Thursday and I can open account on Friday, I will have to do a wire transfer from personal to LLC. And then on Saturday my plan is to do wire to title company.

My only fear is that on a new account, what if bank puts a hold on my funds? If that happens, I will not be able to do wire to title company? 


The seller is refusing to extend the closing even by one more day (really weird seller). On top of it, i have explained that I am not even able to get banker appointment as not all banks are allowing physical meetings due to COVID. Seller  or their agent not friendly at all.

Will I loose the deal and earnest money if my funds gets delayed or blocked by bank? What should I

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