Can You Bring Two Cashier Checks to Closing?

Real estate closing is a significant step in property transactions, requiring careful handling of funds. Personal checks or cash are generally not accepted for substantial sums. Certified funds, such as cashier’s checks or wire transfers, serve as standard payment methods.

Accepted Methods for Funds at Closing

Specific methods are required for transferring funds at real estate closings due to the large sums involved and the need for security. Personal checks and cash are typically not accepted. Personal checks carry the risk of insufficient funds, which could delay or halt the closing process. Cash presents security concerns and logistical challenges.

Cashier’s checks and wire transfers are the most common and secure options for funds at closing. A cashier’s check is issued by a bank and guaranteed, ensuring fund availability. The bank draws money from your account or accepts a cash deposit, then issues a check against its own funds. Wire transfers involve the electronic movement of funds directly between bank accounts, offering a fast and secure way to transfer large amounts without a physical document.

Using Multiple Cashier’s Checks

It is generally permissible to use multiple cashier’s checks when bringing funds to a real estate closing, provided they meet all necessary requirements. Individuals might opt for several checks to manage funds from different bank accounts or combine contributions from multiple parties, such as spouses with separate finances. This flexibility allows for convenience when consolidating the total amount due.

Each cashier’s check must be accurately prepared and made out to the correct payee, typically the title company or escrow agent. Verifying the exact amount for each check and ensuring its legitimacy are essential steps. It is advisable to communicate this plan to the closing agent or title company in advance, allowing them to anticipate and properly process the multiple instruments.

Ensuring Smooth Fund Transfer for Closing

To facilitate a smooth fund transfer for closing, confirm the exact final amount needed with the closing agent or title company shortly before the scheduled date. This figure, often detailed on the Closing Disclosure (CD) form, includes the down payment, closing costs, and any prepaid items. Confirming the precise payee name for any checks or wire transfers is equally important, as funds are typically directed to the title or escrow company.

When obtaining cashier’s checks or initiating wire transfers, timing is important. For cashier’s checks, it is recommended to get them no more than one day before closing, or even on the same day if possible, to account for any last-minute adjustments. Wire transfers should be initiated with sufficient lead time, often at least a day prior to closing, as they can take several hours to a full business day to process.

Maintaining open communication with the closing agent is crucial. Inform them of your method of fund delivery and confirm the receipt of wired funds. On closing day, bring the physical cashier’s checks, if applicable, along with a valid government-issued photo identification. For wire transfers, bring confirmation of the transaction. In instances of minor discrepancies, the closing agent may sometimes allow a small personal check for adjustments, but this should be confirmed beforehand.