Buyer Step 24: Wire Transfer Your Down Payment

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Real Estate

Step 24 to Buying a Home: Wire Transfer Your Down Payment

Wiring Down Payment and Closing Costs

You’ve finally made it to the end – only two more steps to go.  Now comes the painful one; parting with your hard earned dollars. It’s time to pay the down payment and the closing costs.

Three days before settlement, your mortgage lender will email you the Closing Disclosure, an breakdown of your down payment and closing costs. At this point, it is time to wire the down payment and closing costs to the title company. As I have stated before and has been disclosed to you -- Verify All Wiring Instructions in Person or via Telephone Call to a Trusted and Verified Phone Number.

You need to send this wire the day before settlement is scheduled, and before the same day wire transfer cut off. Too be safe, set up the wire transfer in the morning before settlement is scheduled.