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Not really a smooth day!!

January 20th, 2007 at 02:09 pm

We did finally have our much anticipated closing on our spec house yesterday. However, it really was not a smooth day. After spending an hour in the lawyer's office, we took the check to deposit it in our money market account. Because the check was large, they called the other bank to see if their were funds to cover it.
Imagine how upset we were when the teller came back and said there were not enough funds to cover the check!
We left the bank and went back to the lawyer's office, because the funds were supposed to come out of his escrow account.
It turns out they did not make their deposit yet, so they hurried off to the bank.
We went back about 10 minutes later and the funds were there.
Of course, as I said before, they put a hold on the funds for 7 business days, which I thought was strange. The banks are almost across the street from each other.
The last house we sold was for $280,000 and we were able to write a check on that immediately.
All I was going to do with the money was open a CD at another bank that is paying 5.75%, but I can wait!
We have been on that house for 14 months, so I am glad we can now move on. It is time to look for another piece of land and another plan to build.

6 Responses to “Not really a smooth day!!”

  1. tinapbeana Says:
    1169303066

    "Imagine how upset we were when the teller came back and said there were not enough funds to cover the check!"

    ACK!!! i think my heart might have stopped for a bit! glad it all got straightened out.

  2. Ima saver Says:
    1169307779

    I think my husband's heart did stop. He went straight to the car.

  3. LuxLiving Says:
    1169314953

    Oh boy-o!!! I would have been fuming! Happy you must of been when that 'little' snafu happened to get straightened. What did they think you were going to do with a check other than go put it in a bank??? HELLO - somebody's head should roll for that dummard!!

  4. disneysteve Says:
    1169338024

    Congrats Ima! I know you've been looking forward to that closing for quite a while. I'm sure it feels good to have it done and overwith. Don't forget to do that net worth calculation you were waiting until now to do.

  5. baselle Says:
    1169349217

    The devil is always in the details, isn't it? Congratulations!

  6. sicilyyoder Says:
    1169502535

    I would have been mad!!! Firstly, you and your husband sell houses all the time, so the bankers have to know you. I would be soooo made at the lady that did that. Then- put a hold on it- that is SO bad for business- I'm glad your opening a CD at another bank. There is this one lady who doesn't like me at my mom's other bank- she stopped them from cashing my checks unless my step-dad is there- even at the main branch. Thats ok- when I get my 1st check from my cooking show, I'm going to walkin and open an account and deposit it infront of her- I'm sure its more money that she'll ever see. Just wait- I'll have a million dollars in that bank in 5 years from my movie and shows. Mom says to forget about it- but I won't.

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