Legal Question in Real Estate Law in California

The sale of my condo was recorded in the county of San Francisco on past Friday evening. I was told by the escrow that after the sale is recorded, based on our arrangement, I will receive my money through wire to my bank. I received no money on Friday.

After contacting the escrow, I was then told that I will receive the money by Tuesday /Wed next week. Since I have to pay off important bills, the delay in getting my money, especially after the buyers already got the keys to my condo is highly disturbing.

Is the delay in sending my money legal? Is there any way I can enforce the payment of my money this Monday morning vs having to wait until Tuesday/Wednesday next week?

Many thanks for clarifying.


Asked on 7/30/16, 10:21 pm

1 Answer from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Whomever is informing you is at least imprecise, and if the first person told you you'd receive the funds the same day, that was downright incorrect. If the sale was recorded late Friday, the information about the recording probably got back to the escrow company too late to initiate the transfer that day, and even if it did, it wouldn't show up at your bank until the next banking day. My guess is that the transfer will be initiated Monday morning and will show up in your bank balance on Tuesday morning. If timing is critical, I'd plan to be at the office of the escrow company when it opens Monday to see if you can stop the wire transfer and get a cashiers check instead. Finally, we have a lawyer on LawGuru, Timothy McCormick, who was an in-house counsel for an escrow company and who can give you a much better answer if he sees your question in time. My knowledge of this subject comes from being an occasional transferor or transferee of wire transfers and ACH (automated clearing house) transactions.

Read more
Answered on 7/31/16, 10:14 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in California