Posted by Frank [Pgh PA] on March 04, 1999 at 19:09:03:
John - It sounds to me as if you don’t understand the process enough to explain it to your closing officer/title company.
In its simplest form, a simultaneous closing is where the person who is buying from you is in one room and the person you’re buying from is in another room. The closing officer completes the forms and collects a check for your sales price from your buyer. Then you go into the other room and the closing officer completes the forms and gives your seller a check for your purchase price. If there’s any money left over [as there should be] the closing officer hands you a check for the difference which you then either cash or put into your checking account.
Pretty simple stuff.