Preparing to close on your new home is a major step, and it feels like there are so many last-minute details. You will have to line up the movers, transfer utilities, forward your mail…
The list goes on and on. However, there is no more important step than wiring your funds to close. Your lender will send you the final closing documents at least three days prior to the closing, and these documents will let you know how much money you will need to wire.
Every closing attorney has a set of rules on how much they will accept in the form of a personal check, or cashier’s check and how much will have to be wired to their account. Usually, these guidelines are part of every email signature sent out from the firm.
However, consider this when wiring funds: when possible, you should always wire the funds the day before closing, especially if the closing is scheduled for the end of the month.
If you wire the funds on the day of closing and they are not in the attorney’s account at the time of closing, it is the equivalent of “the check is in the mail”. Avoid last-minute stress and wire the funds early.
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