Notice to Buyers, Borrowers and Sellers:
Please take note that the title company may not disburse the proceeds for the transaction until all funds receipted by the company constitute collected funds.
In the event that a cashier’s check will be utilized by any party for purchase funds, down-payment funds or for closing costs, the cashier’s check must be issued by a financial institution that is a National Bank or Federal Savings Bank and the check must identify the purchaser or borrower as the remitter.
Cashier’s checks issued by other financial institutions and credit unions may be subject to a hold upon deposit, until the funds are collected from the issuing financial institution.
*** Wire transfer of funds can avoid delays in disbursement of proceeds on the transaction. ***
Please contact your Escrow Officer for wiring instructions.
(Visited 31 times, 1 visits today)