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Curious about the timeline for receiving funds in a traditional home sale? Read on to find out when you can expect to have the money from the sale in your hands.

Selling a home can be an exciting yet nerve-wracking process. One of the most common questions that sellers have is, "When do I receive the money from the sale?" In a traditional home sale, the timeline for receiving funds can vary depending on several factors. In this article, we will explore the process and shed light on when you can expect to have the money from the sale in your hands.

Understanding the Traditional Home Sale Process

  1. Listing your home for sale:

    • Before you can receive the money from the sale, you need to list your home on the market. This involves hiring a real estate agent, preparing your home for showings, and setting an asking price.
  2. Finding a buyer and negotiating offers:

    • Once your home is listed, potential buyers will start showing interest. When an offer is made, negotiations begin. It's essential to work closely with your real estate agent to ensure you get the best possible deal.
  3. Accepting

The full amount of the home's final price doesn't go right into your pocket. In fact, all in all, you might only realize only 60 to 70 percent of the home's value in net proceeds. Let's look at where the money goes, and how much you get to keep when you sell a home.

Do my proceeds from a home sale go to my bank account?

Some sellers opt to receive payment through wire transfer, while others go the paper check route. With a wire transfer, money is sent to your chosen bank electronically. This can take between 24 to 48 hours to process, though more often than not, you'll see the funds within a few hours.

How long after closing is money wired?

Between 24 to 48 hours Wire transfers can take between 24 to 48 hours to process, but the money is usually available in your account as soon as the bank processes it — often the same day that it's received. Again, there could be a delay based on when the bank receives the transfer.

When should I get my cashier's check for closing?

Typically, you'll need to secure a cashier's or certified check. It should only take a few minutes to have your bank draw one up for you, provided the funds are already in your account, but you'll want to do this a few days in advance of your closing date in case you run into any issues.

When you sell a house does the bank give you all the money?

Immediately after the transaction closes, escrow pays the seller the full purchase price in the form of a cashier's check or wire transfer—minus any fees, taxes, or real estate commissions, which the seller is required to pay.

How much less should you offer on a house when paying cash?

Offering 1% to 4% below asking may not seem like a lot of savings when you're spending hundreds of thousands of dollars, but the reduced price will make your mortgage payments less every month. You may want to offer below 5% when you're paying with cash or when the market is more balanced.

What should I do with large lump sum of money after sale of house?

Your home sale proceeds can be invested in stocks and bonds, mutual funds, annuities, permanent life insurance, REITs, a high-yield savings account and long-term care insurance as a source of income in retirement.

Frequently Asked Questions

How do you negotiate a cash sale on a house?

It should be a price tag higher than their quote, but slightly lower than your listed price. Most cash buyers are flexible and willing to negotiate, especially if they like your house. You can as well stick to your listed price, assuming you priced the property fairly from the start.

How do you sell private property?

How to sell a house by owner
  1. Determine the fair market value.
  2. List your property and find a buyer.
  3. Negotiate and secure an offer.
  4. Create a Real Estate Purchase Agreement and secure finances.
  5. Transfer the property title.


Can I sell my house without a realtor in Pennsylvania?
Once you realize how much you can save, selling a home for sale by owner (FSBO) is very tempting. But remember, you'll need to do all of the work a real estate agent would normally do, including setting the price, listing the home, scheduling showings, and dealing with negotiations.
How do you counter a cash offer on a house?
Here are just a few strategies that can help you beat out the competition:
  1. Get approved for your mortgage.
  2. Waive contingencies.
  3. Increase your earnest money deposit.
  4. Offer above asking price.
  5. Include an appraisal gap guarantee.
  6. Get personal.
  7. Consider a cash offer alternative.

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