Wire Transfer to Mason Title help, please!

[NeutralNovice]

Hi all, so I feel really dumb about this but how do I send a wire transfer to Mason Title to pay for the contract I purchased? I received and completed the contract from Cammy but am a bit confused on how to send the money. I've never done something like this before and I'm mostly familiar with ACH transfers which I understand are not accepted.

Any help, please?

Thank you!

 

[naman1221]

Hi all, so I feel really dumb about this but how do I send a wire transfer to Mason Title to pay for the contract I purchased? I received and completed the contract from Cammy but am a bit confused on how to send the money. I've never done something like this before and I'm mostly familiar with ACH transfers which I understand are not accepted.

Any help, please?

Thank you!

Same general concept - depending on your bank.

I tend to go to a branch and let them know i want to send a wire - follow the instructions they give you. they will ask for account and routing number, name of recipient (usually the title company), and address. Some banks allow this online (JPM Chase definitely does)

There is typically a fee associated unless you are in the highest level bank account..the wire is typically received same day if you send before 4 PM at most banks.

Process is similar to setting up an ACH but the transfer is quicker and doesn't require the time to verify.

 

[AstroBlasters]

Hi all, so I feel really dumb about this but how do I send a wire transfer to Mason Title to pay for the contract I purchased? I received and completed the contract from Cammy but am a bit confused on how to send the money. I've never done something like this before and I'm mostly familiar with ACH transfers which I understand are not accepted.

Any help, please?

Thank you!

1) Call Mason to confirm the information.
2) Print out the form that Cammy sent you with the wire instructions.
3) Bring 2 forms of ID.
4) Go to your financial institution and tell them you need to send a wire.

 

[NeutralNovice]

Same general concept - depending on your bank.

I tend to go to a branch and let them know i want to send a wire - follow the instructions they give you. they will ask for account and routing number, name of recipient (usually the title company), and address. Some banks allow this online (JPM Chase definitely does)

There is typically a fee associated unless you are in the highest level bank account..the wire is typically received same day if you send before 4 PM at most banks.

Process is similar to setting up an ACH but the transfer is quicker and doesn't require the time to verify.

1) Call Mason to confirm the information.
2) Print out the form that Cammy sent you with the wire instructions.
3) Bring 2 forms of ID.
4) Go to your financial institution and tell them you need to send a wire.

Got it, thank you @naman1221 & @AstroBlasters . My bank is Navy Fed CU so unfortunately, they don't have any branches around. Hopefully I'll be able to contact them via phone to initiate the transfer.

First thing tomorrow, I will contact Mason to confirm.

Thank you!

 

[naman1221]

Got it, thank you @naman1221 & @AstroBlasters . My bank is Navy Fed CU so unfortunately, they don't have any branches around. Hopefully I'll be able to contact them via phone to initiate the transfer.

First thing tomorrow, I will contact Mason to confirm.

Thank you!

Not that I think you are getting scammed but make sure you call the number from your officially signed contract - don't call the number on your wire instructions (just in case its fraudulent)

I typically don't worry with DVC purchases as my wire instructions have always come as part of my official docusign package but warning is always important.

 

[NeutralNovice]

Not that I think you are getting scammed but make sure you call the number from your officially signed contract - don't call the number on your wire instructions (just in case its fraudulent)

I typically don't worry with DVC purchases as my wire instructions have always come as part of my official docusign package but warning is always important.

Ugh, I grew up with the idea that anytime someone asks for a wire transfer, it's a scam lol! Wiring this much money makes me nervous!

Calling was going to be my next question.

On the instructions, it says to "CONFIRM ALL WIRING INSTRUCTION BY TELEPHONE USING AN INDEPENDENTLY VERIFIED TELEPHONE NUMBER BEFORE SENDING FUNDS"

Like does it mean independently verified by me? I just did a search for Mason Title and on the website, the Davenport office does indeed have the matching phone number that's on my docusign stuff.

I did a search for the Wire Transfer process with NFCU and it looks like I'd have to send a form. And the wiring instructions from Mason only has:

• Bank Name
• Bank Address
• Bank Account Name
• Bank Routing Number
• Bank Account number
• Swift Code

But on the form, it asks for

• Payee's Financial Institution (which I would assume is the information above)
• AND Payee's information--do they mean the person selling me the contract? If so, I don't have any of that info on the Docusign except their name.

I guess I'll be giving Mason Title a call tomorrow morning!

Thanks again for your help!

 

[sndral]

Hi all, so I feel really dumb about this but how do I send a wire transfer to Mason Title to pay for the contract I purchased? I received and completed the contract from Cammy but am a bit confused on how to send the money. I've never done something like this before and I'm mostly familiar with ACH transfers which I understand are not accepted.

Any help, please?

Thank you!

Most folks don’t send wire transfers often, so it is a bit nerve wracking, especially since you’re usually using a wire for bigger ticket items like purchasing property.
I’ve done several wires, including 2 rather large ones in the last week, not to mention several in years past for DVC resale purchases w/ Mason & Cammy.
Because it’s important to be very methodical about entering the information on the form which triggers the money to be wired to the recipient’s account, I personally prefer to go to a bank branch that way I can cross check the information the banker enters, but my bank allows me to send wires online.

But on the form, it asks for

• Payee's Financial Institution (which I would assume is the information above)
• AND Payee's information--do they mean the person selling me the contract? If so, I don't have any of that info on the Docusign except their name.

I guess I'll be giving Mason Title a call tomorrow morning!

Thanks again for your help!

The payor is you - you‘re sending the money. The payee is Mason because they, as your escrow company, are receiving the money.
When you buy real property - which DVC is - you have an independent third party -Mason in this case - that holds onto your money & won’t give it to the seller until the seller sends back their notarized documents which give you title to your contract. Once the seller completes their paperwork & you have title then Mason will release the funds they’re holding, first to pay their fees, then to payoff any loans, then to pay the broker’s commission, finally to pay the seller.
The instructions you’ll need are all in the closing documents Cammy sent - the payee is Mason, their account & routing number will be listed, etc..
A call to your credit Union might help put your mind at ease, but as long as you enter all of the information correctly - especially the account and routing numbers - everything will be fine.
Note, some banks have specific wire routing numbers that are different from ACH numbers &/or the routing number printed on your checks, so be sure you are using your credit unions correct routing number for wire transfers.

 

[crazycatlady]

Not the OP, but just wanted to say that this thread was so helpful! Thank you everyone!