Buyer from Colorado can wire money to Ohio, is this normal?

6 Replies

Just sold my home from Ohio to someone in Colorado. On closing day they found out they can’t wire money from there account to Ohio due to the amount.

They had to put the check in an Ohio bank to then transfer it to the title company. It is going to take 7 more days to receive the money.

Does this seem sketchy/shady?

Is this normal?

It makes me feel some type of way.. looking for wisdom on this topic

@George Davis sounds like they've got weird banking regulations possibly? I wire money into out of state title company's escrow accounts all the time, though. The title company you're working with shouldn't transfer and record until the funds are received in escrow. 

Originally posted by @George Davis :

@Elliott Elkhoury

Could it be because they weren’t in Colorado , and they have to actually be at the bank to transfer the large amount? Of around 155k?

I heard he might of had to be there for them to approve that transfer.

What do you think?

 That makes sense. They may not have been able to get into the bank and then just said the bank wouldn't let them send the wire.

That is a possibility if they weren't near a branch. I definitely have to show up to a branch for high dollar amount wire transfers.