Insured closings are conducted through our escrow closing accounts at WesBanco Bank or the New Washington State Bank.
As of July 1, 2009 Indiana law requires closings to be done with “good funds”. This requires that any closing funds of $10,000 or more be in the form of a wire transfer to our closing account, so that the funds are irrevocably and unconditionally available for disbursement at the closing. Closing funds less than $10,000 may be in the form of a cashier’s check. Personal checks cannot be used at closing, because often those funds are not immediately avaliable for disbursement to the parties at the closing. We appologize for any inconvenience this may cause the closing parties, but this is now the state law and must be followed by all parties to the closing and by us. It does guarantee that the closing funds can be disbursed at closing without the old practice of waiting for the check to clear.
Please contact us for instructions on wiring your closing funds to our escrow closing account.