Down Payment at closing

We are closing on our first home next week. Wells Fargo wants use to wire transfer the remaining down payment money the day before to them. My mom is telling me that's weird that the down payment money has nothing to do with them. We already proved to them that the money is in the accounts and the bank check should be made out to the seller. I didn't think it was weird....but I have nothing to compare it to. What did you have to do at closing?

Thanks!

Re: Down Payment at closing

On our first house we made the checks out to the sellers of hte house our sellers were buying as they were closing a few hours later.

With our current home, we made checks out to different people .

but in both cases we brought our bank checks with us on the day of closing.

Re: Down Payment at closing

We had to bring a certified check to the closing.

I never heard of wiring the money but then again I've only purchased 1 house lol

Re: Down Payment at closing

We did not wire any money, we paid at closing

Re: Down Payment at closing

Can you call your RE attorney and find out what is going on? I haven't closed on a house before but I've never heard of this.

Re: Down Payment at closing

We had to get a bank check made out to the sellers' attorney.

Re: Down Payment at closing

We had to get 2 certified bank checks I never heard of wiring money definitely call your attorney

Re: Down Payment at closing

Yes, check with your attorney. Your attorney should be the one advising you what to do/bring to the closing. In my experience, the buyers typically bring a bank check to the closing in the amount given to them by their attorney.

Good luck!

Re: Down Payment at closing

we closed in december, we had to get certified bank checks, I would call your attorney.

Re: Down Payment at closing

We brought checks both times. We should Wells both times and were NEVER asked to wire money.

Sounds weird to me.

Re: Down Payment at closing

I would bring a bank check and not wire money, that doesnt sit well with
me.

FWIW, (somewhat related story..) - my friend refinanced and was told to bring a bank check for around $3500 (exact payoff figure wouldnt be given to him until 12 pm the day OF closing!). He said "no freakin' way, I am not giving you extra $$" and brought his personal checkbook...(the bank ended up accepting it anyway)..

Its your money, without you - the closing wont happen so let them work for their cash!

Re: Down Payment at closing

Thanks everyone. Our mortgage broker told DH that Wells Fargo preferred this but our lawyer called the bank lawyers today and said no ....so we will bring a bank check like everyone else. Thanks for the input.

Message edited 2/9/2012 9:35:33 PM.