This is standard procedure. If the buyer’s funds were wired into escrow on Friday at 1pm, the deed was immediately released for recording. Escrow cannot reconcile the transaction or payoff your lenders until recording. If it recorded Friday afternoon at 3pm, it was too late to wire out money to your lender. Wire cutoff is 1:30pm PT or 4:30pm ET. So the next available day that they would have been able to wire would have been this morning. There is almost always a one day lag between recording and the wiring of payoff funds. The only time that this doesn’t happen is if the buyer’s money is sitting in the escrow account first thing that morning. I would say that at least 95% of the time, there is the one day (business day) lag.
