Georgia Good Funds Law
Georgia law now requires closing funds to be "collected" funds. In most cases, this means that closing attorneys can no longer accept checks of any type (e.g., cashier's checks, teller's checks, certified checks or similar), except for nominal amounts.
  • Amounts Greater than $5,000. Under Georgia law, funds in excess of $5,000 must be delivered to the closing attorney in the form of a wire. 
  • Amounts up to $5,000. Certified or cashiers checks issued by a local bank are accepted when paid to the order of either you or the law firm.
  • Nominal Amounts. Personal checks are discouraged since lender requirements, which vary from closing to closing, may insist on collected funds. In other closing situations, personal checks are accepted for amounts less than $100.

Where to Send Your Wire
Wire instructions will be provided to you early in the closing process.

How Much to Send
  • If you are a buyer and not using a lender, please let us know so that we can provide you with an accurate closing figure well in advance of the closing.
  • If you are a buyer and using a lender, you may either contact us to provide you with an accurate closing figure, or contact your lender to obtain a close estimate.
  • If you are a seller and need to bring funds to closing, it is best to contact us to provide the exact amount you will need to wire.

When to Send Your Wire
We recommend sending your wire so that it is received by our firm at least 24 to 48 hours before the scheduled closing. This may involve requesting a wire with your sending financial institution up to five business days in advance.

ACH ≠ WIRE
Please recognize that a wire transfer is not a bill pay or ACH transfer. ACH transfers are not trackable and take several days to clear. Wire transfers are trackable and are generally sent on a same day basis. However, we recommend that all wires be ordered to be received at least 24 to 48 hours prior to the scheduled closing.

Contact Us to Verify Receipt of Your Wire
Once your wire has been initiated and enough time has elapsed for us to receive your wire (your sending bank should give a delivery time estimate), please contact us to verify your wire has been received.




Questions? Speak with a Real Estate Lawyer
CHRIS PAHL
Attorney at Law
Georgia Title & Escrow Co LLC
3575 Piedmont Road
Building 15, Piedmont Center
Suite 120
Atlanta, GA 30305
678.448.4148 Telephone

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+1(678)448-4148
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Buckhead • Atlanta Georgia 30305

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