Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago, 05/12/2020

User Stats

203
Posts
31
Votes
Mak K.
31
Votes |
203
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

Loading replies...