Question about cheapest, but safe way to transfer money to escrow to close?

Discussion in 'Purchasing DVC' started by UFlawgator, Apr 10, 2013.

  1. UFlawgator

    UFlawgator Earning My Ears

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    What have most of you experienced purchasers done to send your funds to the title company escrow account for closing? Wire money or send certified bank check? If it is a bank check how have you sent it? My bank charges $25. to wire money. I'd like to get the money to escrow (when the time comes) as cheaply, but safely as possible. If it matters, the title company will be 1st American. Thanks.
     
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  3. Caren90

    Caren90 DIS Veteran

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    Bank check was the way I paid for my contracts. Since you are dealing with a legitimate title company it is very easy and cheap ($4 for me). Just remember to keep your copy of the check.

    Stephen
     
  4. Missyrose

    Missyrose DIS Veteran

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    Both times I bought, I sent a bank check to First American Title. And the closing docs/check was sent via FedEx.
     
  5. automaticsoap

    automaticsoap Mouseketeer

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    I paid using a cashier's check as well. I have Bank of America, and the fee was $10. I mailed it overnight using UPS.
     
  6. Sur

    Sur Love the Dis

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    Cashiers check. Made out to title co and kept copy in case of loss/problem. Never any problems. I've heard of wiring problems so won't go that route... too costly also.
     
  7. Sandisw

    Sandisw Moderator Moderator

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    Bank check and included it in the package with my closing documents. Did send them Fed Ex.
     
  8. KAT4DISNEY

    KAT4DISNEY Glad to be a test subject

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    The do require a certified check of some sort so that is what I sent. But I just mailed it the old fashioned way with one of the inexpensive tracking options rather than pay fedex or ups rates.
     
  9. dbs1228

    dbs1228 DIS Veteran

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    Both times I purchased I sent usps regular mail no tracking kept copies of bank check and both times they had the check (different closing companies) with in 2 days - coming from Ct.
     
  10. DannysMom

    DannysMom DIS Veteran

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    I sent a bank check as well. Sent via track-able carrier, likely FedEx 2 day.

    Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
     
  11. fortheloveofminnie

    fortheloveofminnie Earning My Ears

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    I wired my money, and everything worked out fine with my transfer (I used the same title company). However, because I got the closing docs on a Friday but decided to wait for Sat to go to the bank, it actually took until Tuesday evening for the wire to clear. It would have been cheaper and faster to get a check from the bank on Friday afternoon and send the check Express via USPS. That's what I would do if I had to do it again.
     
  12. RSWA2

    RSWA2 Mouseketeer

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    Some local banks and/or credit unions have a no fee Cashier's Check if they are to pay a title company.

    I did mine like that and then I used regular USPS to mail it. I paid for certified mail, which cost me $2.95 (I don't recall if that included the stamp). I mailed all closing docs and the cashier's check with that. The title company received it in 3 business days.
     
  13. UFlawgator

    UFlawgator Earning My Ears

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    Thank you all who responded for your suggestions and ideas. I have not been a member of this board very long, but I have already found it very helpful.
     
  14. ponyboy

    ponyboy Gun slingin DW lover

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    In my line of business we do a lot of shipments and send out a lot of checks all over the place. We use all types of shipping, USPS, FedEx, FedEx Ground, UPS and we send all important or time sensitive documents FedEx.

    If it has to get there then FedEx is #1, USPS is dead last. That said, 98% of all shipments arrive without a hitch.
     

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