Columbus Ohio real estate

Columbus home buyers "closing... who do we make the check out to?"

checkTimes change...   a lot of things stay the same as far as real estate. 

Technology can change things.  Often for the better but sometimes there is an unintended consequence to good thing that technology allows us to do. 

A mere 19 months or so ago I wrote a post that is featured on my Columbus Ohio real estate site:

Closing ... who do we make the check out to?

The post reads:

"For our closing... who do we make the check out to?"

Buyers often think of that question shortly before their closing.  You need to use a cashiers check or a certified check for closing.   If you need less than $1000 to close (that's not happening as much as it used to...) the title company can accept a personal check for the funds required for closing.

Q: "For our closing on our new house who do we have the bank make the check out to?"

A: In my experience usually having your bank make out the check  to  yourself makes the most sense.  You then sign the check over to the title company.  ******

You could have the check made out to the title company, that works...   ****** but most Central Ohio home buyers seem to have the bank make the check for closing out to themselves.   

Part of the title companies function is receiving the funds for the closing and disbursing the funds for the closing. The title company receives funds from  all sources, the buyer, a mortgage company, grant programs and disburses the funds to the seller, the county, service providers (survey, home warranty, etc.)

Please bring your checkbook along to the closing as well.

Central Ohio closings  Franklin and Delaware Counties

What are our legal options?

End of the post from mid 2011

I went to a class at the Columbus Board of REALTORS less than a month ago and the real estate attorney teaching the class brought this up.  

DO NOT MAKE THE CHECK OUT TO YOURSELF!!!  It was convenient.  Times change....



This post provided by Maureen McCabe HER Realtors*

Contact Maureen McCabe of HER Realtors* - 614.388.8249

HER Realtors  Maureen McCabe

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*Real Living HER

Information is deemed to be accurate but should be verified to your satisfaction.  Information provided herein is supplied by several sources and is subject to change without notice.  Opinions expressed are solely those of Maureen McCabe.



Comment balloon 0 commentsMaureen McCabe • October 26 2012 05:24AM