Relocated, No Bank Branch, and Need Earnest Money Check

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Topic Author
Broadway2018
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Relocated, No Bank Branch, and Need Earnest Money Check

Post by Broadway2018 » Sun Jul 14, 2019 8:26 pm

Does anyone know how to transfer money to an escrow account when your bank does not have a branch in the area?

I recently moved and put an offer on a house. It was accepted and now I need to give the earnest money to the escrow company. I thought I would just go to the bank and get a check, but surprise the bank is not in this new area.

What do I do? Can you wire the money to escrow? Anyone have this happen?

delamer
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by delamer » Sun Jul 14, 2019 8:33 pm

You should check with the escrow company. Won’t they accept a personal check?

I’d be surprised if they won’t accept a wire.

runner3081
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by runner3081 » Sun Jul 14, 2019 8:34 pm

Purchased three houses. All three times a personal check was sufficient.

drk
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Location: Seattle

Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by drk » Sun Jul 14, 2019 8:36 pm

FWIW, answering this question is part of why the escrow company gets paid. I'm sure they'll be happy to accept personal check or wire.

Topic Author
Broadway2018
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by Broadway2018 » Sun Jul 14, 2019 8:42 pm

drk wrote:
Sun Jul 14, 2019 8:36 pm
FWIW, answering this question is part of why the escrow company gets paid. I'm sure they'll be happy to accept personal check or wire.
I do not have any checks. That is the issue. Also, it seems to send a wire I would need to go to a bank branch.

drk
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Location: Seattle

Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by drk » Sun Jul 14, 2019 8:45 pm

Broadway2018 wrote:
Sun Jul 14, 2019 8:42 pm
Also, it seems to send a wire I would need to go to a bank branch.
Why can't you call your bank for the wire?

Topic Author
Broadway2018
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by Broadway2018 » Sun Jul 14, 2019 8:45 pm

drk wrote:
Sun Jul 14, 2019 8:45 pm
Broadway2018 wrote:
Sun Jul 14, 2019 8:42 pm
Also, it seems to send a wire I would need to go to a bank branch.
Why can't you call your bank for the wire?
I could try in the morning. This seems to be my only option.

delamer
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by delamer » Sun Jul 14, 2019 8:49 pm

Broadway2018 wrote:
Sun Jul 14, 2019 8:42 pm
drk wrote:
Sun Jul 14, 2019 8:36 pm
FWIW, answering this question is part of why the escrow company gets paid. I'm sure they'll be happy to accept personal check or wire.
I do not have any checks. That is the issue. Also, it seems to send a wire I would need to go to a bank branch.
A cash advance on a credit card and buy a money order, maybe.

But eventually you’ll have to find a branch of your old bank, get a bank check and open a local account.

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Watty
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by Watty » Sun Jul 14, 2019 8:56 pm

Once when I was doing a corporate relocation I needed to buy a car for cash in the new city but the dealer would not take an out of state personal check. An instate personal check would have been fine. I had already opened a checking account in the new city with a few thousand dollars but if I deposited a large personal check there they would have put something like a seven(?) day hold on the funds since it was a new account.

I was able to get my company to take my personal check and give me a check that the dealer would take. I don't remember the details of how they did that but I think they had a relationship with a bank where they called their personal contact at the bank to OK cutting a bank check made out to the dealership.

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ResearchMed
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by ResearchMed » Sun Jul 14, 2019 8:57 pm

Broadway2018 wrote:
Sun Jul 14, 2019 8:45 pm
drk wrote:
Sun Jul 14, 2019 8:45 pm
Broadway2018 wrote:
Sun Jul 14, 2019 8:42 pm
Also, it seems to send a wire I would need to go to a bank branch.
Why can't you call your bank for the wire?
I could try in the morning. This seems to be my only option.
They probably can't wire a large sum with only your phone call, but you should be able to set it up by phone, and then email or fax written authorization. Just speak with the branch manager where your account is.

RM
This signature is a placebo. You are in the control group.

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Watty
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by Watty » Sun Jul 14, 2019 9:05 pm

Broadway2018 wrote:
Sun Jul 14, 2019 8:42 pm
drk wrote:
Sun Jul 14, 2019 8:36 pm
FWIW, answering this question is part of why the escrow company gets paid. I'm sure they'll be happy to accept personal check or wire.
I do not have any checks. That is the issue. Also, it seems to send a wire I would need to go to a bank branch.
Is there someone in your old city that could overnight you your checkbook? If so you might want to get this set up as a fallback position since there might be something like a noon cutoff for next day delivery.

I don't know how practicable it would be but you might also be able to get check printing software and print your own check, but there are likely a lot of special requirements about using special paper stock.

Topic Author
Broadway2018
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Joined: Sat May 13, 2017 3:34 pm

Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by Broadway2018 » Sun Jul 14, 2019 9:06 pm

Watty wrote:
Sun Jul 14, 2019 9:05 pm
Broadway2018 wrote:
Sun Jul 14, 2019 8:42 pm
drk wrote:
Sun Jul 14, 2019 8:36 pm
FWIW, answering this question is part of why the escrow company gets paid. I'm sure they'll be happy to accept personal check or wire.
I do not have any checks. That is the issue. Also, it seems to send a wire I would need to go to a bank branch.
Is there someone in your old city that could overnight you your checkbook? If so you might want to get this set up as a fallback position since there might be something like a noon cutoff for next day delivery.

I don't know how practicable it would be but you might also be able to get check printing software and print your own check, but there are likely a lot of special requirements about using special paper stock.
Good call, I will have them overnight me a check just in case.

obgraham
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by obgraham » Sun Jul 14, 2019 9:57 pm

If you are going to have a regular bank, this is an argument for a local community bank.

I had this problem, buying a place on the otherside of the country. Got on the phone, talked to the manager at my home bank, told her the problem, and she had the solution (wired funds) in short order. Megabanks would diddle around all week getting "authorization".

chessknt
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Re: Relocated, No Bank Branch, and Need Earnest Money Check

Post by chessknt » Sun Jul 14, 2019 10:09 pm

Use online bill pay and send it to escrow, it will get there by mid week. Earnest money is usually not time critical don't overthink it.

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