IS IT NORMAL TO WIRE MONEY TO A LAWYER ACCOUNT THE DAY BEFORE CLOSING?

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I HAVE ALWAYS CARRIED A CASHIER CHECK TO CLOSING FOR ALL THE PROPERTIES I HAVE BROUGHT BEFORE. I'M TOLD TO WIRE MONEY TO THIS LAWYER SO HE CAN PAID THE PERSON I'M BUYING THE PROPERTRY FROM.

Attorney Answers

4
Scott Riddle ·
Yes, it is normal.
0 upvotes
John Corrigan ·
Becoming more and more prevalent these days and it really depends on what the parties agree to in terms of "funds flow" mechanics. do not be alarmed as the attorney has to have the fund held in a special trust account for benefit of clients for this kind of purpose. If you are nervous just check the name of the account as it is required to have the words "Attorney Trust Account" to distinguish it from the lawyer's regular operating account.
0 upvotes
Peter Morgan ·
In Georgia, for funding of all transactions, pursuant to O.C.G.A. Section 44-14-13, funds for closing must be remitted as follows: $5000.00 or less may be remitted by wire transfer or certified check. All closing funds requiring more than $5000.00 *must* be submitted in the form of a bank wire.
0 upvotes