At the completion of the sale, how do I get my money from the buyer?

At the completion of the sale, how do I get my money from the buyer?

John Caliendo (Realtor) gives expert video advice on: How do I price my home for the current real estate market?; How do I set up an open house?; How can I improve the appearance of my home in order to raise the asking price? and more...

After the completion of the sale of your home, your money coming from the buyer is the responsibility of the escrow company, the escrow company being the neutral third party and traffic coordinator of the transaction. They are the ones that take the deposit, take the proceeds when your lender is issuing your funds. They don't go directly to the seller; they go directly to the escrow company. So to answer the question, at the close of escrow, basically the escrow company will balance the books, send the seller his or her proceeds, give the buyer any leftover moneys that were in escrow and everyone moves on.