Home Selling in New York>Question Details

karinagrrrl, Home Seller in New York, NY

Should i accept payment by attorney trust account check?

Asked by karinagrrrl, New York, NY Wed May 16, 2012

Help the community by answering this question:

Answers

6
Yes, It is as good as it gets. It is a trust account which means it has many rules and guidelines and the funds must be there and accountable. If it were to bounce there would be major problems for the attorney.
2 votes Thank Flag Link Wed May 16, 2012
Yes, this is fine and how most closings are done.
1 vote Thank Flag Link Wed May 16, 2012
Karina, accept the check. This is what occurs and the check is good. At it's longest, an in state check will take no more than three business days to clear. This is not uncommon in real estate. Good luck.
1 vote Thank Flag Link Wed May 16, 2012
As already stated attorney trust account checks are common, therefore no reason not to consider the idea; however do discuss any concerns you may have with the attorney....
1 vote Thank Flag Link Wed May 16, 2012
It depends, if you are closing on another property the next day than the answer is no this is not a bank ck and will need a few days to be deposited in your account. If you are not closing within 24 hrs., there is not risk.
1 vote Thank Flag Link Wed May 16, 2012
Hi, Attorney trust checks are very common with real estate closings...I get them all the time, especially if they are representing the bank.

Chris
1 vote Thank Flag Link Wed May 16, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer