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.
Not really a smooth day!!
January 20th, 2007 at 02:09 pm
January 20th, 2007 at 02:24 pm 1169303066
ACK!!! i think my heart might have stopped for a bit! glad it all got straightened out.
January 20th, 2007 at 03:42 pm 1169307779
January 20th, 2007 at 05:42 pm 1169314953
January 21st, 2007 at 12:07 am 1169338024
January 21st, 2007 at 03:13 am 1169349217
January 22nd, 2007 at 09:48 pm 1169502535