Someone needs to go in and see the bank manager and stomp their feet.

Ignore what they say...you bet they can move money faster...also they can call the other bank to see if it has cleared. 

Usually it take the bank a day to clear, although they try to make you wait a week.

I have been very successful in getting funds released early.

Eve

I would take the check back to the issuing bank & get cash.

The client should have gone to both banks and wired to escrow/title account. 

Bank has a right to put a hold on large funds as it can be redacted or NSF or worse.  Need to ask for an extension now and put seller on the real schedule. Buyer should pay a per dium late fee to the seller as they knew there was going to be a hold, but went ahead and deposited the check. 

Can they get gift funds? Execute gift letter and grantors bank statement and get it into Underwriting. The gift from a direct Relative can act as the float they need. Gift from Mom, Dad, sister brother could also come from a line of credit that relative has. Relative may pay a fee to disperse but the funds should not go into buyer's bank they should be wired to escrow/title

 Send Eve to the bank on your behalf... she will take care of it!  (See her answer on this page).

 Mike & Eve Alexander 

Why couldn't they just wire the funds? Just curious!

Yes, I've used Twitter to help others get their message across to the banks on several occasions. It WORKS!

Cancel the check and have the funds wired.

I'm sure you found a solution....cancel the check and get a cashier check or transfer money online for a small fee?

I see your solution! Great job!

I agree with Lyn Sims.

Why what a mess. I guess I don't understand why this was not thought out before and gone over so everyone was on the same page. Why wasn't it just wired to the title company to begin with?

First I would blow my "stupid" whistle. That client should have been instructed on how to transfer the funds and wire funds to escrow. This kind of crap happens when clients are not guided and instructed. 

"Client was not sure what to do..." Wow! 

It would appear that some extensions of time may be necessary. 

7 days move the close but does it move the close 7 days or did this blooper happen with some time to spare before the scheduled close?

More information is needed. 

You already stomped and a acceleration or reversal doesn't seem probable (after seeing your later comments)...it's an unfortunate wait and possible COE delay.

Update: Well done with that clever solution!

needs all funds wired...what's with checks.... wired to the closing attorney's IOLTA account.... that's what's done in MA.... 

Skip transfering to that bank, send all of them directly to closing company.

Tbis is not rare. Waiting is still the shortest distance between two points but with other homes in the train this can get complicated.

This seems negotiable as things are in the pipe and can be verified. Activate maximum communications which will be received as good will

I have acted as the bank for the buyer if the amount wasn't huge and I had full trust in them. My bank doesn't hold checks. 

I agree with Candice, just have the funds wired to title in two wires, one from each bank.

That's a pretty standard policy.  If you have a good relationship with the bank manager or a personal banker they can waive that.  We've had it waived on $70k checks before.

Interesting.

Looks like you were successful with the negative PR on Twitter.  Sometimes "shaming" a person into performance makes the job get done.  Too bad things have come to this.

Escalate to "C" level exec at the bank

Sounds to me like client should have planned for the transfer earlier and found out what the details would be at his/her bank. I come across this issue regularly of clients needing to move funds from various accounts to another to close and they plan for it in advance. It's not like the escrow close date was a secret or set last minute, I assume.

morale of the story is wire. not checks. but you know that

What Candice A. Donofrio said, we like wired funds...no mess, no fuss.  A

I would follow Caroline Gerardo advice. 

Get the bank manager involved. Can't they wire the funds (which may still take 3 days for some banks) or better yet, get a cashier's check from account A and deposit in in account B. Make sure that they provide a paper trail for any transfering of money that they do and get it to the lender ASAP or there will be further delays! :-)

Good luck.

Twitter has worked around here for a few REALTORS when banks are not moving.

wire funds.  

What happened to wire transfers?

John Meussner I once deposited a large sum of money from a closing that were certified funds. My bank made me wait 10 days. Reason: How do I use your money for 10 days interest free.

It looks like the squeaky (Twitter) wheel works.

Is this funds being transferred within the same bank ???

Whatever is possible.

Bridge loans are the best way to accommodate the Seller's woes without disrupting "policy", although, a call to the Bank's president has modified many policies for me in the past. 

Strange, maybe they should wire it. Or go get cash to avoid the 7 days. For the customer service, i am finding posting on social media works wonders

Unfortunately, that's been that way for years now so this is something I discuss with buyers most often at time of offer and when we discuss closing procedures. 

John Meussner - good answer from Mike & Eve Alexander.

Like lyn says.  Get the cahs and then  worry about how it gets handled.