Title co. does dry closings and funds the next day.

[Lou Gonzales]

I was looking for a title company here in Illinois that does dry closings. Now I was under the impression dry closings were prohibited in Il., but I spoke with a company out of Virginia that sends out a notary to where ever you're at and will close both one day and fund the next day when all funds are received. Has anyone heard of this and is it legal.

[Joe Mueller]

@Lou Gonzales @Mark Faustrum thanks for the mention.

Our title company can dry close but Typically that just means funds aren’t wired in yet. So i would need more details because it’s an odd request.

If LOU you need a double close to have an end buyer fund a deal, we do those every day.

We wouldn’t intentionally have closing without the money with intent to wait for it as at that point your just waiting for a wire and if the buyer didn’t have funds ready chances are it would get rescheduled until the money could be sent.

that said, there’s plenty of times that docs are signed at the closing table by all parties and the wire or money hasn’t hit yet and in those cases no one gets their check until the money hits the title company escrow account.

@Lou Gonzales what are you looking to accomplish?