Your money is government business...

[Ingomike]

Either that site you linked is going by old law, or they are simply wrong. You can pay by cash or personal check if the check is deposited in the escrow account at least 14 days prior to the closing. See (1) and (9)
IC 27-7-3.7-4"Good funds"
sec. 4. As used in this chapter, "good funds" means funds in any of the following forms:
(1) United States currency.
(2) Wired funds unconditionally held by and irrevocably credited to the escrow account of the closing agent.
(3) Certified or cashier's checks that are drawn on an existing account at a:
(A) bank;
(B) savings and loan association;
(C) credit union; or
(D) savings bank;
chartered under the laws of a state or the United States.
(4) A check drawn on the trust account of a real estate broker licensed under IC 25-34.1, if the closing agent has reasonable and prudent grounds to believe that sufficient funds will be available for withdrawal from the account on which the check is drawn at the time of disbursement of funds from the closing agent's escrow account.
(5) A personal check not to exceed five hundred dollars ($500) per closing.
(6) A check issued by the state, the United States, or a political subdivision of the state or the United States.
(7) A check drawn on the escrow account of another closing agent, if the closing agent in the escrow transaction has reasonable and prudent grounds to believe that sufficient funds will be available for withdrawal from the account upon which the check is drawn at the time of disbursement of funds from the escrow account of the closing agent in the escrow transaction.
(8) A check issued by a farm credit service authorized under the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.).
(9) A check that is deposited and held in the escrow account of the closing agent for at least fourteen (14) days before the date of closing.

See above for the current IC or the link below.

http://iga.in.gov/legislative/laws/2021/ic/titles/027#27-7-3.7

I love you guys, no lack of overconfidence here. I verified with a title company RE attorney this week the reality of what is done and it is as I posted. This does not reference the $10,000 threshold for wires.

 

[Timjoebillybob]

I love you guys, no lack of overconfidence here. I verified with a title company RE attorney this week the reality of what is done and it is as I posted.

Maybe how it's done, but it's not required by law which is what you stated. What I posted is current IC code, you can check it yourself I posted the link.

 

[Ingomike]

Maybe how it's done, but it's not required by law which is what you stated. What I posted is current IC code, you can check it yourself I posted the link.

Yes it is. Are you an attorney? Over $10,000 was what I said, that list is likely possible ways of payment without details of limits…

 

[Timjoebillybob]

Yes it is. Are you an attorney? Over $10,000 was what I said, that list is likely possible ways of payment without details of limits…

Can you point out any limits in that code? Other than $500 for a personal check that doesn't have to be held. And no I'm not an attorney but I can read simple law.

 

[Ingomike]

Can you point out any limits in that code? Other than $500 for a personal check that doesn't have to be held. And no I'm not an attorney but I can read simple law.

I cannot. I am not an attorney, I do not know all the ins and outs of the law but a real estate attorney could answer this for you like the one I asked.

 

[Timjoebillybob]

I cannot. I am not an attorney, I do not know all the ins and outs of the law but a real estate attorney could answer this for you like the one I asked.

You cannot, because it's not there. I'm also wondering why you linked to that site, rather than just the code when he asked for the law.

 

[HCRMPD1]

Well, that's what I'd like to do but two things stood in my way.
1. I was caught off guard, and just responded.
2. The reason I was caught off guard is, well, there's no easy way to admit this... I'm a closet nice guy.

Being a closet nice guy will get you in trouble every time.

 

[Ingomike]

You cannot, because it's not there. I'm also wondering why you linked to that site, rather than just the code when he asked for the law.

At the risk of out kicking my knowledge I suspect that this is in the insurance section of the law where almost everyone except xwing wants insured closings with title insuranc…

 

[Timjoebillybob]

At the risk of out kicking my knowledge I suspect that this is in the insurance section of the law where almost everyone except xwing wants insured closings with title insuranc…

I looked through the entire thing including abstract and title insurance. That is the only place good funds or anything like it is mentioned is in the chapter/section I quoted. Which is also the same one that your link was going by.

 

[actaeon277]

Being a closet nice guy will get you in trouble every time.

Snarl at everyone, they leave you alone.

 

[Ingomike]

I looked through the entire thing including abstract and title insurance. That is the only place good funds or anything like it is mentioned is in the chapter/section I quoted. Which is also the same one that your link was going by.

All can tell you is good luck getting a reputable title company to do it differently for amounts over $10,000

 

[BugI02]

At the risk of out kicking my knowledge I suspect that this is in the insurance section of the law where almost everyone except xwing wants insured closings with title insuranc…

I think I understand the love for HOAs now

Mike, are you a realtor?

If so, I still don't get the love for DSL, though. Don't most open houses end at 3? How much time DOES it take you to play 18

 

[Ingomike]

I think I understand the love for HOAs now

Mike, are you a realtor?

If so, I still don't get the love for DSL, though. Don't most open houses end at 3? How much time DOES it take you to play 18

Someday you too will be able to hande an HOA at a meeting while it is still daylight at 9PM…

 

[BugI02]

I will take not answering the question (not the one about pace of play) as functionally equivalent to a yes

 

[Ingomike]

I will take not answering the question (not the one about pace of play) as functionally equivalent to a yes

Then you would be incorrect but would be correct about pace of play…

 

[TrueSeanamus]

if they know everything, then why do I have to file a tax return?

Because they want to give you a chance to incriminate yourself or overpay. The year long interest free loan isn’t enough for the parasites.