What attorney?

      The Title attorneys and Title insurers here will accept a paper check for the escrow deposit.  But for the balance to close, they insist on wired funds.  

We don't use attorneys for closings in the great state of Arizona . . . HOWEVER, there is both strong encouragement to wire EVERYTHING, AND a lot of cautioning that wire fraud is rampant. 

I am also able to receive commissions via wire about 75% of the time, and even though some title companies jack you for wire fees (the highest I've seen is $30), many don't charge at all and I love the convenience. 

Yes, the only way we can currently do it. And it is ripe with problems!

It has been years since they would accept anything else around here. Bank checks have become too easy to forge.

Only wired funds required for at least 3-4  years now...too much fraud.

Eve

Praful Thakkar Many of our title companies will only accept wired funds. No more cashiers checks...too much fraud!!

We do not use closing attorneys in AZ, we use escrow companies.

We do not use attornies for closing, but we do use escrow. Most closings involve wire transfers, but they do still take cashier's checks. But cashier's checks need to be seasoned a few days still.

We don't typically use attorneys as part of our real estate settlement in California. 

Yes, it has been that way for several years.

There are some local closing companies that request wires a few days before closing. Most often bank checks are still taken from local banks where they check can be verified. 

We have title companies that deal with this and the many traps involved in wiring money.

No. We close with title companies not attorneys and most common are cashier's checks for closings. -Kasey

I can't say that I blame them at all.  

Title companies here have required that for quite some time.

That's between the closing attorney and the lender. I don't get involved.

that's typical....

I know wire fraud is up around here, so I will not do anything like that without speaking with the requesting closing attorney first. Then I will have the clients contact the attorney to discuss information needed for the wire.

Out in California, escrows have required funds to be wired for a long time.  You can bring a cashier's check, but it can delay as the check will need to clear the bank first.

We do not use attorneys in my market.  It is standard procedure here to wire funds. It is a given. Most listing agents require deposit funds to be wired within 1 business day after acceptance.  Closing funds are also wired. 

We have it here all the time, no biggie.

Yes.

Best part of real estate in Arizona is that real estate agents arrived here before attorney's figured out what was going on and cut them out of the deal.

yes

Attorneys have accepted only wired funds here in Charlotte region for at least 3 years now. 

We do not use attorneys, funds are distributed via escrow company to everyone. 

My closing company will not take checks over $500. I have my clients contact them directly to get wiring instructions and to give wiring instructions for proceeds so there is no electronic transmission throughmy accounts or theirs.

We only wire funds to escrow, haven't allowed checks in 10 years.

That is the way of the future that is here now. Once all states legalize on line notaries we can become completely paper less and brick and mortarless.

No.

Our one and only Title company has been all over us about wire fraud Praful Thakkar that if there is any question at all it's best to see that the Buyer contact the title company BY PHONE and confirm all that is going on.

Doesn't apply here in CA. Funds are wired and received before escrow authorizes recording. No attorneys here typically.

I have never seen anything other than wiring closing funds.  Most of the time, buyer wires the initial deposit as well. 

Praful,

We have enough with attorneys, and now they do not participate in CA.  A

We've been doing it this way for years, Praful. We're now fighting wiring fraud here in Charlotte and it's so frustrating to have to use the encrypted wiring instructions AND have them phone the attorney for confirmation of the instructions. 

No I have not seen any increase in this here Praful Thakkar 

Cash transactions are required to have a wire for the funds.