Yelling at the Title Company.
Today I have a Client attempting to deposit an earnest money check to the Title Company in compliance with the Arizona Contract. I wanted to give you all the 411 on how depositing money at a Title Company works.
1. You can give Title a personal check or a business check. There will be a 10-day hold. If today is the last day to deposit money with Title, then you would be out of compliance and the Seller would have the right to CURE the Buyer. A Cure Period Notice gives the Buyer 5 days to deposit the earnest money by 5:00pm of day 5. After that, the Seller can cancel.
2. You can give Title a cashier check. This is considered cash and will be accepted and credited as deposited to Escrow on the day it is delivered.
3. You can wire Title the earnest money. Beware of wire fraud and be certain to call Title to verbally verify routing # and account #. If you wire to a routing# or an account# obtained from an email, you are risking loss of said money. You must must must must verbally obtain the numbers from an actual Escrow Officer that you know.
Geoff Nowlin is a licensed Realtor in Phoenix, AZ specializing in www.5kflatfeelisting.com. If you need to sell, save thousands and get a FREE Home + Termite Inspection. Never too busy to serve you.
Buyers get: Sellers get:
FREE Home Inspection 5k
Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
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Best,
Geoff Nowlin, Phoenix Realtor
480-466-3737
nowlin.geoff@gmail.com
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