We have implemented multiple industry procedures to ensure your privacy and security. These include ALTA’s Best Practices. Powerful tools help us ensure that the largest transaction of your life is completed the right way the first time.
For example, weekly staff meetings and quarterly training keeps our team up-to-date on the latest industry requirements and company policies.
Here are a few of the ways we have gone above and beyond industry requirements to protect you and your information:
PROTECT YOURSELF FROM CYBER FRAUD
Watch the video or read below to learn how to protect yourself from cyber fraud.
HOW YOUR MONEY GETS STOLEN
Rule 1: Always question emails that contain wiring instructions.
Hackers have learned to exploit the real estate closing process to steal millions of dollars from people buying or selling a home.
Rule 2: Always call before sending any money.
When you do receive instructions on where to send money prior to closing, always call your contact person at the title company to verify. Then call your bank to verify as well.
Rule 3: Always call after sending money.
It’s always a good idea to call right after money is sent. That way, you can verify that it was received by the correct recipient.
Rule 4: Act immediately if anything seems unusual.
Contact your bank, mortgage company, and title company immediately if anything is in question. If something is wrong, you may need to contact your local FBI office.
Selling a house or helping someone buy or sell their home if you are a Realtor, can be an exciting time. One of the most common questions we get from Realtors and home sellers alike is “when will I get my check?”
This is understandable as there has been a lot of work and patience to get the transaction done. Plus, who doesn’t like a payday!
We make every effort to pay all of the parties involved quickly, oftentimes the same day the transaction closes. However, this can vary based on the day or time of day the closing occurs. For example, most banks aren’t open after 5 or 6 pm and are closed on weekends.
That said, here is when you can expect to be paid for your closing or your commission if you were part of helping a transaction become a done deal:
If you are owed net proceeds from the sale of a house, or a Commission as Realtor, you can usually expect a check to be cut the same or next business day.
Of course, if you are out of town, the check will be mailed, so estimate an extra day or two to actually receive it.
If you’d like to receive the funds very quickly, it might be a good idea to select a Monday-Thursday closing date. This way you shouldn’t have to wait until the following week if banks or offices are closed.
Paper Check vs Wire Transfer
It is often assumed that Wire Transfers are faster than receiving a paper check. However, this isn’t always true. Wire transfers sometimes require more verification and approvals (due to cyber fraud) and as a result may even take an extra 24 hours to receive the funds.
