At Closing - Funds Not There - What Happens?
We the seller signed the HUD-1s last Friday as we now reside in another state than the property in question.
On Monday, our realtor said the buyer was having trouble getting their funds together for the closing, and said it seemed a little iffy as to whether the closing will go through or not.
The buyer signed the papers about an hour ago, and my realtor called me to say that they were waiting for the funds to be wired in to the title company.
I had always thought the funds were available from the buyer either before or at closing, and the papers would get signed then.
What happens if, as in this case, the keys have been handed over, and the title company is still waiting on the funds?
Will do, thank you.
We have attended many, many closings but have never had the funds not be there at closing - it just seemed odd (and therefore a little concerning!).
You are going to get widely varied opinions on the NV/DE corporations. I would recommend doing a www.google.com search for "Delaware corporation scams" or "nevada corporation scams" before you by the hype directly from one of those online companies.
So - maybe forget the NV corp - and just go with CA?
Any idea what building/business that Corona meeting is taking place in - something I should look for around 6th and Victoria? Is there a cost?
Guntherpurdue,
Glad to meet you,
Well I know what I would say, by the time it took you to right this post and time it took you to do your research, I will have done one creative investing deal.
With part of the profits from this deal, if I was so inclinded I could hire the top asset protection attorney in the US to set up my corporate entity and then go on to the next deal fully protected.
John $Cash$ Locke
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Forget 1031, sell the property, quit claim deed back to corporation. The profits in the corporation can now become 401K, IrAS, salaries to officers, expenses for trips. Then desolve the corp, and start another one.
I like the protection of Nevada Corp
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