Updated: October 21, 2026 · By Mark Dietel, Broker/Owner, Mark Dietel Realty · 6-minute read
Most Indiana home sellers receive their proceeds the same day as closing or the next business day, once the deed is ready to record and the buyer's lender has funded. Mark Dietel Realty tells Greenwood and Southside Indianapolis sellers to plan around wire timing, not the signing appointment itself.
Key takeaways
- Signing and funding are separate events. You are paid when the transaction funds and disburses, not when you sign.
- Indiana's Good Funds Law (IC 27-7-3.7) requires the closing agent to hold collected funds before disbursing, and large amounts from one party must arrive as good funds such as a wire.
- A wire to your bank usually lands the same day if sent before your bank's cutoff; a check takes your bank's hold period.
- Your payoff, taxes and other items are settled from the sale price at the closing table. Ask for a written seller net sheet before you list.
- The parts you control are the closing day and time, wire or check, and the order of a same-day sale and purchase.
When does the money actually arrive?
For a typical Indiana sale, proceeds arrive by wire the same day as closing or the next business day. The title company disburses once the buyer's lender has funded the loan, all documents are signed, and the deed is ready to record with the county.
The signing appointment is not the finish line. At many closings the buyer's lender has already sent loan funds and disbursement follows within hours. But if a lender funds late in the day, or a document needs correcting, disbursement slides to the next business day. Morning closings early in the week leave the most room before wire cutoffs.
Where the sale sits in your larger timeline matters too. The full calendar from listing to closing day is mapped in our guide to how long it takes to sell a house in Greenwood, Indiana.
What is Indiana's Good Funds Law and why does it matter?
Indiana's Good Funds Law (IC 27-7-3.7) requires closing agents to disburse only funds that are actually collected. Under IC 27-7-3.7-7, funds of $10,000 or more from a single party must arrive as an irrevocable wire transfer before the closing agent may pay anyone, including you.
This is why a buyer who shows up planning to pay by ordinary personal check can delay everyone's money, including yours.
For you as the seller, the practical takeaways are simple. Bring your bank's wire instructions to closing: account and routing numbers from a voided check or your bank's official wire sheet. Confirm wire instructions by phone with your title company, never by acting on emailed changes, since wire fraud targeting real estate closings is a real and well-documented risk.
What has to happen between signing and your wire?
Three things stand between your signature and your money: the buyer's lender releasing loan funds, the closing agent balancing the file, and the deed being cleared for recording. In Johnson County and Marion County these usually finish the same day for a morning closing.
The title company also settles every obligation on the house at the same time. Your mortgage payoff is sent from the sale proceeds, calculated from a payoff statement that includes interest through the payoff date, which is why it is slightly different from the balance shown in your banking app. County property taxes are prorated between you and the buyer as of the closing date; Indiana bills property taxes in arrears, due in May and November installments, per the Indiana Department of Local Government Finance, so buyers are credited at closing for taxes covering your period of ownership.
Every one of those items appears on your settlement statement, and none of them should be a surprise. They were all estimated on the written seller net sheet before you listed. We wrote a full walkthrough in what a seller net sheet is and what goes into it.
What is settled from the sale price at closing?
Your proceeds are what remains after the obligations tied to the home are paid at the closing table. The usual items, each shown on your settlement statement, are:
What is settled at closing
| Item settled at closing | What it is | Who typically handles it in Indiana |
|---|---|---|
| Mortgage payoff(s) | Your remaining loan balance plus interest to the payoff date, from the lender's payoff statement | Sent by the title company from your proceeds |
| Property tax proration | A credit to the buyer for taxes covering your ownership period; Indiana taxes are billed in arrears (Indiana DLGF) | Calculated by the title company |
| Agent compensation | Your negotiated agent compensation (enter yours) — agreed in your listing agreement; negotiable and not set by law | Paid per the listing agreement and purchase agreement |
| Title and settlement items | The items handled by the title company for the transaction, as allocated in your purchase agreement | Split by custom and contract; negotiable |
| Liens, judgments or assessments | Anything recorded against the property that must be released for clear title | Paid and released by the title company |
| HOA items | Unpaid dues and any transfer items your association charges | Verified with the HOA before closing |
What does this look like in Central Indiana?
A hypothetical Southside Indianapolis example: a seller closes on a $300,000 home at 10:00 a.m. on a Tuesday at a Greenwood title office. The buyer's lender funded that morning. By early afternoon the file is balanced, the deed is released to record with the county, and the title company sends the seller's wire at 2:30 p.m., ahead of the seller's bank cutoff. The proceeds show as available that evening.
Run the same closing at 4:00 p.m. on a Friday and the wire likely misses the cutoff, making the money available Monday. Same sale, same documents, and three extra days of waiting. If your proceeds are funding a purchase the next morning, that difference decides whether the purchase closes on time, which is why we schedule sale-then-purchase closings early in the day and week whenever we can. More on sequencing is in sell first or buy first in Johnson County.
So the seller's real choices come down to three. A morning closing early in the week gives the most room before wire cutoffs, while a late Friday closing can push the money to Monday. A wire is usually available the same day, while a check waits on your bank's hold. And if you are also buying, closing the sale first lets the title company move your proceeds straight into the purchase file under Indiana's Good Funds Law.
When this doesn't apply
Expect a different rhythm in a few situations. Estate and probate sales can require court approval before disbursement. Short sales wait on the lender's approval letter, and proceeds may be nothing by design. If a seller's lien or judgment surfaces late, the title company must resolve it before releasing anything. Mail-away closings, where you sign remotely from another state, add courier or notary time before the file is complete. And for-sale-by-owner transactions without a title company follow whatever the parties arranged, so ask early who will handle the closing and the disbursement.
What to do next
If you want to know what your own closing day would look like, and what number would actually land in your account, ask for a written seller net sheet before you list. It is specific to your house, your payoff and your dates. Ask your title company for its wire cutoff time when you schedule the closing.
Prefer to talk? Call (317) 426-9911. Mark Dietel Realty has offices in Southside Indianapolis, Greenwood and Bloomington.
Read next: How Long Does It Take to Sell a House in Greenwood, Indiana? · Sell First or Buy First in Johnson County, Indiana?
Frequently asked questions
Is a wire or a check faster for my proceeds?
A wire, almost always. A wire sent before your bank's cutoff is typically available the same day. A title company check is subject to your bank's deposit hold policy, which can run several business days for large amounts. If speed matters, choose the wire.
When do I get my escrow balance back from my old mortgage?
Separately, from your lender, not at the closing table. After your loan pays off, the lender refunds whatever remains in your escrow account, commonly within a few weeks of payoff under federal servicing rules.
What happens if the buyer's lender doesn't fund on closing day?
Nothing disburses, including your proceeds, until funds arrive, because Indiana's Good Funds Law requires collected funds first. The purchase agreement governs what happens next; usually funding lands the following business day. Your agent and the title company should be telling you exactly where things stand.
Can I use my proceeds for a purchase closing the same day?
Yes, if the closings are sequenced and the title company knows in advance. When the closings are set up that way, the title company moves your proceeds directly into the purchase file. Schedule the sale closing first, in the morning, and confirm the plan with both closing teams the week before.
This is general information, not legal or tax advice — confirm your situation with a closing attorney, CPA or lender. Mark Dietel Realty — offices in Indianapolis (Southside), Greenwood and Bloomington, Indiana.
Sources
- Indiana Code IC 27-7-3.7-4 (definition of good funds): https://law.justia.com/codes/indiana/2017/title-27/article-7/chapter-3.7/section-27-7-3.7-4/
- Indiana Code IC 27-7-3.7-7 ($10,000 good-funds rule for disbursement): https://law.justia.com/codes/indiana/2017/title-27/article-7/chapter-3.7/section-27-7-3.7-7/
- Indiana Department of Local Government Finance — property tax due dates and deductions: https://www.in.gov/dlgf/
