I have been informed by the builder of a new home that I am buying, that he will not give me keys to the house until wire transfer funds have 'cured'. I have spoken with my bank/mortgage officer and the title company. Since the mortgage is 30% of the purchase price, both bank and title company will sign paperwork. I investigated and found that wire transfer instructions must be given by noon (MT) in order for the funds to be received the same day; however, the builder insists he will not relinquish keys to me until they deem it to be 'cured'. To my knowledge, wire transfers are irrevocable and both the bank and the title company have no issue with this transaction. How can the builder insist on "curing" time? This is incomprehensible to me. I have transferred funds from EU to US within minutes.
If the builder simply means that his bank needs to have received settlement for the wire transfer and his account is credited, making the transfer final, no-one should have a problem with the minor delay. If the builder is suggesting you might have to wait more than a day for delivery of the keys after the funds have been wired, there's something wrong. Either the builder's bank is incorrectly holding back access to the builder's wired-in funds or the builder is blowing smoke for some unknown reason to justify a delay.
It's standard for the keys to be handed over during the closing on a real estate transaction. When funds transfers are involved, it could be reasonable to have the keys held by the closing agent pending notification that the transfers have been completed. There wouldn't be any other legitimate reason for you to be denied the rights of ownership otherwise.
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If the builder simply means that his bank needs to have received settlement for the wire transfer and his 