Originally Posted by
reclending.com
Thank you for the question. When your bank got his check, they probably sat on it for 5 - 7 business days before clearing it. That would be normal. If you do normal banking there, they would probably transfer funds to another account IF IF IF you told them what to do with the overage. Over payment money should not go to the buyer at all. What or who says he sends it to you? Should be your money to control.
This is one reason why we wire funds. Instant from one account to another and seller has access to it.
The other question is where were the titles have been sent?
You should be getting a lien release and something from them asking where you want the released titles to go. As for the additional funds, that will be a challenge. If it's your normal bank, they should just put it in your account. If you don't bank there, you should have had the additional money over the payoff sent to you. We only send the EXACT amount of the payoff to the lien holder. Anything additional we send directly to the seller.
Let me know if we can help with anything.
Thank you,
Ken
(517) 543-6921 - Office