Artwork

Content provided by Susanne Casey. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Susanne Casey or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Player FM - Podcast App
Go offline with the Player FM app!

How Changes in Ohio’s Good Funds Law Could Affect You

 
Share
 

Manage episode 174477831 series 1041635
Content provided by Susanne Casey. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Susanne Casey or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.



The Ohio Good Funds law has some changes that go into effect on April 6th this year. Here's what those changes could mean to you.

Selling a home? Click here for a FREE Home Price Evaluation

What is the Ohio Good Funds law? How has it changed recently? How does it affect you if you're involved in a real estate transaction?

Ohio's had a good funds law on the books since 1996, but April 6th of this year, it'll be updated to keep up with the digital world we all now live in. The change will adjust how you bring funds to a closing in a real estate transaction.

The Ohio Good Funds law was created to ensure that the funds used for a real estate closing are deposited and available for withdrawal at the time of disbursement. The change in the law aims to not only ensure that funds are available at closing, but also to prevent fraud.

The change in this law should help prevent fraud.

In the past, it was customary to get a cashier's check to get the necessary funds to close. Now in most cases, they must be wired from your bank. In addition, any cash or checks used at settlement cannot total more than $1,000 unless they're from a real estate brokerage as earnest money.

If you have any questions about the good funds law or how it could affect you, give me a call or send me an email. I'd be happy to help you in any way that I can.
  continue reading

24 episodes

Artwork
iconShare
 
Manage episode 174477831 series 1041635
Content provided by Susanne Casey. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Susanne Casey or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.



The Ohio Good Funds law has some changes that go into effect on April 6th this year. Here's what those changes could mean to you.

Selling a home? Click here for a FREE Home Price Evaluation

What is the Ohio Good Funds law? How has it changed recently? How does it affect you if you're involved in a real estate transaction?

Ohio's had a good funds law on the books since 1996, but April 6th of this year, it'll be updated to keep up with the digital world we all now live in. The change will adjust how you bring funds to a closing in a real estate transaction.

The Ohio Good Funds law was created to ensure that the funds used for a real estate closing are deposited and available for withdrawal at the time of disbursement. The change in the law aims to not only ensure that funds are available at closing, but also to prevent fraud.

The change in this law should help prevent fraud.

In the past, it was customary to get a cashier's check to get the necessary funds to close. Now in most cases, they must be wired from your bank. In addition, any cash or checks used at settlement cannot total more than $1,000 unless they're from a real estate brokerage as earnest money.

If you have any questions about the good funds law or how it could affect you, give me a call or send me an email. I'd be happy to help you in any way that I can.
  continue reading

24 episodes

All episodes

×
 
Loading …

Welcome to Player FM!

Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.

 

Quick Reference Guide