When will I receive the proceeds of sale?

Your lawyer is only allowed to release the proceeds of sale to you after the transfer is registered on title to the property. Registration of a transfer results in changing the owner of a property from the seller to the buyer. 

Before the transfer is registered on title, the lawyers will need to make sure that all funds, keys and documents have been duly exchanged and all conditions to the closing have been met. Much of this exchange takes place on the closing day and as such should everything proceed smoothly, you should expect your funds to become available towards the end of the business day on closing. 

You will need to find out how your lawyer plans to give you the funds. If you work with Lexpand, we wire the funds directly to your account. One of the advantages of a wire transfer is that there is no hold on wired funds.