Closing Day ≠ Payday (Just Yet)
While closing day is when you sign the paperwork to sell your home, you don't receive your funds the moment you sign. Here's how the timeline typically works.
What Has to Happen First
- All documents are signed by both buyer and seller
- The buyer's funds (from their lender or bank) are received and cleared
- The deed is recorded with the county — this is when the sale becomes official
Important: In Tennessee, the title company cannot release funds until the deed is recorded.
How Funds Are Delivered
- Wire transfer to your bank account (fastest and most common)
- Paper check, which you can pick up or have mailed
- Be sure to provide accurate wiring instructions to avoid delays
Your Final Settlement Sheet
You'll receive a settlement statement (ALTA or Closing Disclosure) at closing, which shows:
- Sale price
- Loan payoffs
- Commissions
- Taxes and fees
- Your net proceeds (what you walk away with)
Jane's tip: Always double-check with the title company about their funding and disbursement process so you know exactly when to expect your money.