Are there any rules against closing on a property with cash rather than a check?

Michele
Home Buyer
Cocoa, FL

Answers (4)
Joe Harris
Mortgage Broker
or Lender

Melbourne, FL

I do not know of a title company that will allow you to close with actual cash. Like previously stated, you can wire funds in, but you can not bring a bag of loot. There re issues of Patriot Act at hand here.

Mon Oct 26 2009, 17:17
Kandi Schromm
Agent
32114

Hi Michele.
Do you mean walking in with a briefcase or envelop of cash money, not a cashiers check? That is a very interesting question. I have never seen it done and think most title companies and/or closing attorneys would have an issue with that. I'll be curious to see the other answers you recieve.

Good luck!
Kandi Schromm
Beach & Luxury Realty

Mon Oct 26 2009, 14:50
Patty Ventola
Agent
Forsyth County, GA

You would have to have the money wired to the attorney's office at least 24 hours before the closing so the attorney can verify that the funds are in their account. So check with your closing attorney to see what their specific guidelines are. They receive wires all the time.
Good luck and it's great to have a cash buyer!! Congratulations.

Mon Oct 26 2009, 14:34
Katina Wright
Agent
30310
FIRST ANSWER

No...just wire the funds to the attorney's office.

Mon Oct 26 2009, 14:31

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 102
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback