Wire funds before seller signs?

[DonMacGregor]

One of my mentors calls this the OHIO strategy: Only Handle It Once.

Bingo.

 

[pianomanzano]

There are a lot of people who think holding back the funds is exerting pressure on the sellers and agents, and somehow implies that they are "in control".

That seems silly, sellers are in all kinds of different situations that could prevent them from sending docs back. After my 4 resales I've learned to be more patient with the resale/closing process--I was the holdup my last resale and transferred funds a day after the seller returned their docs).

It's interesting hearing these differing opinions because it's the complete opposite for me. It's more stressful having money just sitting there in escrow (not earning interest) whether it's a couple days or a couple weeks.

 

[Sandisw]

That seems silly, sellers are in all kinds of different situations that could prevent them from sending docs back. After my 4 resales I've learned to be more patient with the resale/closing process--I was the holdup my last resale and transferred funds a day after the seller returned their docs).

It's interesting hearing these differing opinions because it's the complete opposite for me. It's more stressful having money just sitting there in escrow (not earning interest) whether it's a couple days or a couple weeks.

It’s funny because the one time I did hold back the funds, was the one seller that I had to threaten to walk.

If I ever bought resale again, I’d honestly just send it so not to have to worry.

 

[DonMacGregor]

It's interesting hearing these differing opinions because it's the complete opposite for me. It's more stressful having money just sitting there in escrow (not earning interest) whether it's a couple days or a couple weeks.

Again, if that amount of interest is of value to you, then it's of value to you and that's fine. For me, at my age, and where my priorities lie, if I'm worrying about (the remote possibility) of not earning < a hundred bucks somewhere, then I've got some personal priority issues. While I'm not stress-free by any definition, the things that DO stress me need to be significant and of merit. Not making a few bucks extra on savings account interest just isn't one of them.

And, it's not about being patient: I bought my contract currently in ROFR solely because of the price, and the points are getting banked as soon as they show up because I have no use for them currently. For me, it's about starting and finishing something and not dragging it out, or creating more steps or touch points on the deal than are necessary. As @Brian Noble said: O.H.I.O.

 

[NY Pirate Princess]

Thank you everyone! I appreciate all of your feedback and experiences.

I am sitting in a nicely air conditioned lobby waiting for a bank agent so I can wire the funds. The money will transfer on Monday. I determined it would be best to get this last part done now.

I am not at all happy with broker or title company. It will not matter the slightest as soon as this process is over. I will be sure if I catch the inevitable need to add on like everyone says (and I already feel) it will not be with either company.