I attended the closing yesterday for my buyers who bought a house in the downtown area of Bartlett. The sellers’ real estate attorney shared the story of another closing where the buyer showed up with $20,000 cash to cover his closing costs. The attorney explained to the buyer that the title company wouldn’t accept the cash and that he needed to go to a bank to get a cashier’s check. Understandably, title companies don’t want the risk of holding and transporting large sums of cash. Home buyers, find out how much money you need to bring to your closing from your real estate attorney or loan officer. Then get a cashier’s check for that amount.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
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And you’ll need to bring a cashier’s check or a certified check – the Title companies won’t accept a personal check either.
One of the annoying aspects of our business is that the buyers rarely get the amount they need to bring to closing less than 24 hours before closing. There are many parties who have to work together to create the magic number and it just always seems to be in the last day that it comes together.