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Paying Closing Costs - Cashiers Check or Wire Transfer?

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playboy
Regular Contributor

Paying Closing Costs - Cashiers Check or Wire Transfer?

Another question.  Has anyone that has closed escrow within the last 6 months been told that they couldn't bring a cashier's check to closing?  Instead, the title company only took wire transfers?  I ask bc my agent is telling me that the industry standard is to only accept wire transfers instead of cashier's checks.


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Message 1 of 6
5 REPLIES 5
JM-AM
Valued Contributor

Re: Paying Closing Costs - Cashiers Check or Wire Transfer?

Some companies do one way or the other. Its all the same. Transfer is just faster deposit. But it could be title company policy.
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Message 2 of 6
MovingForward_2012
Valued Contributor

Re: Paying Closing Costs - Cashiers Check or Wire Transfer?

The title company told me that I could write a personal check since the amount I owed was less than $500. I did see a sign posted while I was at the title company for closing and it said, "amounts of $25,000 or greater require a wire transfer".

How much are you thinking you will have to bring to closing?
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 3 of 6
playboy
Regular Contributor

Re: Paying Closing Costs - Cashiers Check or Wire Transfer?


@MovingForward_2012 wrote:
The title company told me that I could write a personal check since the amount I owed was less than $500. I did see a sign posted while I was at the title company for closing and it said, "amounts of $25,000 or greater require a wire transfer".

How much are you thinking you will have to bring to closing?

I'm going to have to bring somewhere around $2,300 to closing give or take $100.  


Starting Score: EX 575/TU 534/EQ 570
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Message 4 of 6
MovingForward_2012
Valued Contributor

Re: Paying Closing Costs - Cashiers Check or Wire Transfer?

For that amount, you should just be able to get a cashier's check but as JM-AM mentioned, it depends on the rules of your particular title company.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 5 of 6
BCullum
New Contributor

Re: Paying Closing Costs - Cashiers Check or Wire Transfer?

I'm bringing an 79,000 dollar cashiers check with me to closing.

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