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Updated about 5 years ago,

User Stats

526
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520
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Jon K.
  • Rental Property Investor
  • Perry Hall, MD
520
Votes |
526
Posts

Hard money interest after closing as a seller

Jon K.
  • Rental Property Investor
  • Perry Hall, MD
Posted

General question for the HMLs and those that use them out there. When selling a property on which you have a hard money loan, how many days of interest is it typical to pay to said HML after closing? Meaning I am aware there can be a delay between when the title company handles everything and when the wire is received. An associate was recently told they were responsible for a week's worth of interest after closing, but was not told whether or not a portion would be refunded if the funds were received sooner. I am just curious what is typical if anyone has any insight?

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