Reply
Regular Contributor
Posts: 189
Registered: ‎04-28-2007
0

Escrow Check

I placed a contract on a house and it requires  $1000  escrow check to be submitted.  Is that check cashed when the offer is accepted?  or at Closing
 
 
Member
Posts: 15
Registered: ‎09-11-2008
0

Re: Escrow Check

It will be cashed before closing. It all depends on the seller. In my case I placed a bid on a foreclosure and handed my realtor $1000 check on 08/05. My realtor held the check for me. When he submitted my offer he made a copy and faxed it over to the seller'r realtor. My offer was accepted on 08/15 and then even after it being accepted, it still was not cashed. I received an head's up e-mail from my realtor in September that he was going to deliver the check to the seller. I hope this helps.
Senior Contributor
Posts: 3,299
Registered: ‎04-22-2008
0

Re: Escrow Check

Mine cleared my account 3 dyas after opening escrow.  Make sure that you have $ to cover it and do not ask for them to "hold" the check.  They will consider the fact that you do not have the 100 ready to go as a sign that you are not ready to purchase the property.
Regular Contributor
Posts: 157
Registered: ‎08-11-2008
0

Re: Escrow Check

You should ask your realtor.
 
We had to present a $500.00 within 3 days of acceptance of offer.  They cashed it within 2 days.
 
We will get it back in the form of a $500.00 check from their attorney at closing.
Regular Contributor
Posts: 189
Registered: ‎04-28-2007
0

Re: Escrow Check

Thanks everyone.  That was helpful. 

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.