I am a licensed realtor and in my RE class the teacher did mention a 3 day "cool down" period is in affect in some states ... not mine so that is all that was said about this matter. But the fact that the check did not post the same day as the closing indicates this was simply a banking issue and not anything more ... in that case the closing date is the day of sale and not when the money was available for withdrawal. If you walk away from the closing table with a check in your hand (which hardly happens any longer) and deposited into the bank then you are subject to the bank's rules on when the deposit can be touched. Holding periods for withdrawals can be a week or longer until the check clears unlike a direct deposit which clears usually overnight.
