Welcome to another installment of Ask a Pro! Today we are talking to Karlton Utter, Director of Learning at Better Homes and Gardens® Real Estate, about the process of a cash sale.
Q: Just sold my house, cash sale no conditions. Deal closes Nov13 2014. Packing my stuff up leaving Nov 7th takes a week to drive to Edmonton Alberta. How do I get my equity from my house? Does it automatically go to bank for deposit?
-Ashlee B.
A: Great question. Typically the money would be released by your attorney upon closing; however, you should contact your attorney to confirm this and for information on how it will be paid to you, as the bank or your attorney may have specific policies in place.
-Karlton U.