Closing: Who do we make the check out to?

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Real Estate Agent with HER Realtors

Check "For our closing... who do we make the check out to?"

Buyers often think of that question shortly before their closing.  You need to use a cashiers check or a certified check for closing.   If you need less than $1000 to close (that's not happening as much as it used to...) the title company can accept a personal check for the funds required for closing.

Q: "For our closing on our new house who do we have the bank make the check out to?"

A: In my experience usually having your bank make out the check  to  yourself makes the most sense.  You then sign the check over to the title company.  ******

You could have the check made out to the title company, that works...  but most Central Ohio home buyers seem to have the bank make the check for closing out to themselves.  NOT ANYMORE!!!

Part of the title companies function is receiving the funds for the closing and disbursing the funds for the closing. The title company receives funds from  all sources, the buyer, a mortgage company, grant programs and disburses the funds to the seller, the county, service providers (survey, home warranty, etc.)

Please bring your checkbook along to the closing as well.

Central Ohio closings in Franklin and Delaware Counties we are still doing round table closings in 2011

What are our legal options?

EDIT 10/ 2012 ****** Times CHANGE!!  Talk to your title company... you probably will not be able to sign over a check made out to yourself. 

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This post provided by Maureen McCabe HER Realtors*

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Information is deemed to be accurate but should be verified to your satisfaction.  Information provided herein is supplied by several sources and is subject to change without notice.  Opinions expressed are solely those of Maureen McCabe.

 


 

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Rainmaker
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Maureen McCabe
HER Realtors - Columbus, OH
Columbus Ohio Real Estate

THIS HAS CHANGED!!!!  ASK your title company!!! 

October 25, 2012 12:52 PM #1
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