Finally Closed Today But Worried about my Wire Transfer.

[CreditNoob]

My wife and I finally closed today via a notary. Our new home is in a different state so the title company and lender allowed us to close using a mobile notary in our current state that came to our home. So this means that our closing was today 5/28 with funding occuring on 5/29, as the documents will be overnighted to our escrow rep to verify the funds and record the title. When we finished signing and the notary left I went to check the account that we used to do the wire on 5/27 and saw that the funds were still there. I called my bank and they told me that the wire has been flagged to go into extended verification. I was confused because a few days before I did the wire I called the bank to let them know that I would be doing a wire and why I was doing it, so something like what has happened does not happen. Anyways I talked to a supervisor and they voluteered to write an email letter that stated the issue which I forwarded to my LO and escrow rep.

Should I be worried? I did what I was suppose to and initiated the wire on 5/27 and now there is  chance funding will not happen on 5/29 per the timeline. What should I expect if the wire does not clear on 5/29?

[lex_n_me]

My buyers had a similar situation happen. The wire didn't process on closing day. They kept in contact with the title company, who kept me abreast of what was going on. All was resolved in a couple days. My advice is to stay in constant communication with the necessary parties. I believe all will be well. Good luck to you. 

[pizzadude]

Hopefully your wire transfer went through, I get that banks have due diligence on these transactions but it's frustrating when something gets blocked by some kind of manual review. 

The good news is that wire transfers are about as close to real time as you can get, so it'll go thru quickly once approved.

[CreditNoob]

@pizzadude thank you! So the bank did end up processing the wire today and the title company got the wire. We are funded and can officially move in!

[sybo40]

GOOD NEWS!  CONGRATULATIONS! I am in the process of going through the same thing (it's my first time), so seeing these kind of messages in advance helps me to understand the process a little better and relieve some of my "anticipated" anxiety. Enjoy your new home!  :-)