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Updated about 1 month ago, 10/21/2024

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4
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1
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Sarah Minor
1
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4
Posts

Closed on investment property 5 days ago and have not been paid

Sarah Minor
Posted

SOS......I closed on my investment property last Thursday, lawyer, title co, realtors paid and keys handed over to buyer but the wire from the bank ( the title company uses) keeps getting rejected by my investment company.  The processor keeps making mistakes with the wire with spelling errors etc and now they say the two software systems Bank and investment company cannot integrate.  What? Who is responsible for paying the interest I am losing during these 5 days.  I am at a complete loss.....should I call the atty general of NH?  I have never heard of such a case.  I have no house and no money from the sale!

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Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
61,686
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41,895
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Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

calm down you will get your money and no one is going to pay your interest. 

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JLH Capital Partners
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Chris Seveney
Lender
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  • Investor
  • Virginia
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Chris Seveney
Lender
Pro Member
  • Investor
  • Virginia
ModeratorReplied

@Sarah Minor

Have them overnight you a check. You will not get interest on it. Not much else you can do.

If you are close then just go to office and pickup the check.

  • Chris Seveney
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7e investments
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User Stats

4
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1
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Sarah Minor
1
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4
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Sarah Minor
Replied

Thanks for your kind reply. They wanted to do that but it would mean it wouldn't clear for up to 21 days. I just have never heard of this kind of experience and am wondering if others have run into any debacle like this.

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Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
61,686
Votes |
41,895
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Jay Hinrichs
Professional Services
Pro Member
#4 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Quote from @Sarah Minor:

Thanks for your kind reply. They wanted to do that but it would mean it wouldn't clear for up to 21 days. I just have never heard of this kind of experience and am wondering if others have run into any debacle like this.


title company checks normally dont get held I know mine never do.. last year when first american got hacked I had closed a deal and had a nice size proceed wire due and it took 6 or 7 days for FATCO to get the wire out to me..
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JLH Capital Partners
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