How to track release of funds from Real's Trust Account (e.g. Collapsed Deal, Release of Excess Funds)

If you need to return funds to a client, lawyer, or other entity, you can track the process in reZEN. Click on the transaction, then click the Deposits tab, then scroll down to Release of Funds section.

• If you need to return excess funds, Real's Conveyance Team will initiate this for you. 
• If you have a collapsed deal, please follow the process for your province:
  • Alberta Collapsed Deal - Return of Deposit Process
  • BC Collapsed Deal - Return of Deposit Process
  • Manitoba Collapsed Deal - Return of Deposit Deal Process
  • Ontario Collapsed Deal - Return of Deposit Process

Once the release has been initiated, you will see your request under the Release of Funds in reZEN. 

For any amounts greater than $50,000, your Broker will also need to review and approve the release. 

Real's Finance Team will release the funds on or after the requested release date - and once all previous steps are approved. 

That's it! Once funds are released, normal processing times will apply. ACH and Wire may take 3-5 business days, depending on local bank processing times. Checks may take 7 - 10 business days, depending on mail processing times.