http://www.concurringopinions.com/archives/2006/09/personal_checks.html The Law, the Universe, and Everything Sun, 22 Nov 2009 08:31:00 -0700 http://wordpress.org/?v=2.8.3 hourly 1 http://www.concurringopinions.com/archives/2006/09/personal_checks.html/comment-page-1#comment-57110 Fred Tung Fri, 08 Sep 2006 22:23:42 +0000 http://www.solove.org/archives/2006/09/personal-checks-real-estate-closings-and-the-trust-divide.html#comment-57110 I had a similar experience moving from California to Georgia. In California, buyer and seller sign the loan and transfer documents a few days before closing. The bank spends a day or two checking all the documents. Then on the closing date, the bank funds the escrow, and the grant deed and mortgage are recorded. Only then does the buyer get the keys to the place--that is, when the house is actually bought and paid for. In Georgia, the "closing date" is the day everyone shows up in a lawyer's office to sign papers, and the buyers get to walk out with the keys! As the buyer, I couldn't help feeling like I'd gotten away with something. I had a similar experience moving from California to Georgia. In California, buyer and seller sign the loan and transfer documents a few days before closing. The bank spends a day or two checking all the documents. Then on the closing date, the bank funds the escrow, and the grant deed and mortgage are recorded. Only then does the buyer get the keys to the place–that is, when the house is actually bought and paid for. In Georgia, the “closing date” is the day everyone shows up in a lawyer’s office to sign papers, and the buyers get to walk out with the keys! As the buyer, I couldn’t help feeling like I’d gotten away with something.

]]> http://www.concurringopinions.com/archives/2006/09/personal_checks.html/comment-page-1#comment-57109 dammitboris Fri, 08 Sep 2006 08:41:25 +0000 http://www.solove.org/archives/2006/09/personal-checks-real-estate-closings-and-the-trust-divide.html#comment-57109 here in orlando, where i practice, the deposit can be made by personal check, but only if the closing is more than 10 days away, to ensure clearance. here in orlando, where i practice, the deposit can be made by personal check, but only if the closing is more than 10 days away, to ensure clearance.

]]> http://www.concurringopinions.com/archives/2006/09/personal_checks.html/comment-page-1#comment-57108 Miriam Cherry Fri, 08 Sep 2006 00:10:37 +0000 http://www.solove.org/archives/2006/09/personal-checks-real-estate-closings-and-the-trust-divide.html#comment-57108 Congrats on selling your house! Mine is still on the market... Congrats on selling your house! Mine is still on the market…

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