The updated Ohio Good Funds Law now requires that anytime parties need to bring over $1,000 to a closing, those funds must be wired to the title company.
Before closing, ask your bank the following questions:
- Is there a fee to wire funds from my account?
- Do I need to come to the bank in person to send a wire?
- What time do you stop wiring funds that will go out the same day?
- How long does it the money need to be in my account before I can wire it out?
Don't forget to confirm the amount you need to send with your lender or the title company prior to initiating the wire.