Quote:
Originally Posted by retiredguy123
Based on the settlement date, they may have violated SEC rules by not providing the funds to you in a timely manner. You could report them to the SEC. But, if you lost money in a real estate transaction, I don't think you will be able to recover anything from the stock broker.
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retiredguy123,
I am asking you this purely academic question because it seems like you know stuff. . .
In a circumstance such as this one, should? would? could? the title company have stepped up to arrange for a dry closing?
OP,
I don’t know anything about whether you have any legal recourse or not. But I think if I were you, I would find another broker. The new broker should handle all the transfers for you so you never again have to talk to the one who dropped the ball. But make sure the new broker explains each type of transfer being used, and why, before you sign off. Different types of accounts might require different types of transfers.