WHEN ARE FINAL PROCEEDS PAID? Proceeds After Closing
Your net proceeds are the amount of funds you’ll take home after your home sale is complete. This amount is what’s left after paying off things like your mortgage balance, closing costs, and any other fees related to the sale. During closing, ownership of the property is transferred from seller to buyer. The title and escrow company handles all of the paperwork, distributes funds, makes sure all necessary documents are recorded with the county, and the new deed is recorded in the buyer’s name. Once everything is finalized, your proceeds are sent to you either by wire or check. If the buyer is using a loan, funds are disbursed to you after the lender gives final approval post-signing.
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