Getting earnest money for offer on out of state property

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Getting earnest money for offer on out of state property

Kelly Byrd
Rental Property Investor · Los Alamos, CA · Member since 2016 · 114 posts · 62 votes

Maybe I'm just overcomplicating things and avoiding the obvious solution, but I thought I would try forums.

We're investing out of state and making several offers. For earnest money, should I just send a check via USPS to my Realtor or do the pros here have a faster and easier method? I thought maybe I could have a national bank do an Official Check at a local branch or something similar. Any ideas?

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  • Kelly Byrd
    OP
    Rental Property Investor · Los Alamos, CA · Member since 2016 · 114 posts · 62 votes
    9y

    Anyone?

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  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    9y

    @Kelly Byrd , has your offer been accepted yet? I would overnight or wire the funds. If you wire the funds, call the title company directly to get the wire instructions, don't trust that your agent will send them. Even if your agent does send them, call the title company NOT your agent to confirm them. Too much wire fraud happening these days...

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    BiggerPockets
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  • Kelly Byrd
    OP
    Rental Property Investor · Los Alamos, CA · Member since 2016 · 114 posts · 62 votes
    9y

    Thanks Mindy, 
    Yea I'll do a wire transfer in the future. I don't know why I didn't think of that.

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