I’ve sold my house; what is the next step? – How long does it take to receive money after selling my house?
Once your house is sold, it should only take between 1-4 business days for the money to transfer to your account. Most of the time, the money is funded through a wire transfer directly into your account. Typically, once you sell your house, there is nothing left to do but sign the papers and receive the money.
It is exciting when you get to the last few steps in the house selling process. With the funds, you can do a lot of different things! Houses now are worth a lot more than they were just a few years ago, meaning it is likely you have extra after paying back your repayment total.
Some people choose to use the money from their previous homes to buy a new home. This is a common practice, but it means you will need a Mortgage House home lender expert to assist you while looking for a loan. There are many to choose from; the higher the deposit you place on the loan, the less interest you will pay by the end of the term.
Selling a House and Receiving Money Conclusion
Possibly the best part about selling your home is receiving the money. Usually, the process takes 24 hours, but it can take up to 4 business days to receive the money. Some banks will also hold a portion so they can verify that the money is real and secure.