Escrow Account (Jersey City: condo, mortgage, attorneys)

[balancesheet]

[SIZE=3]I am closing on a 2 bedroom condo in Jersey City next week in an all cash transaction. I have paid my 5% deposit directly to the seller’s attorney’s trust account. Do I do the same thing at closing? Or do I wire the money to my attorney’s escrow account first? Is it wise to wire the funds to my attorney’s escrow account before closing? [/SIZE]

[Sergio M]

Congratulations on your purchase! The buyer's attorney usually cuts all the checks. You should have your realtor call the attorney and ask them how they want the check made out, the amount, and how they want it delivered. Also, have the realtor pull any deposit funds down that may be held in escrow.

[IntheBurbs]

I believe you will need certified funds for the closing. I would check with your attorney. Congrats on your new place!

[DodgeViper01]

Originally Posted by IntheBurbs

I believe you will need certified funds for the closing. I would check with your attorney. Congrats on your new place!

This is correct. At closing you will come with the balance to be paid for the home in certified funds (your own bank check or mortgage bank check) and present it to the attorneys. They will then cut the checks to the correct parties.