Monday, April 17, 2017

query: difference between cashiers check and certified check

A cashiers check aka teller check is issued by the teller at the bank. It's not your personal check. The bank will type one of THEIR checks and the teller will sign it. You will be noted as the remitter.

A certified check is YOUR check which has been stamped certified by the teller. The teller freezes these funds in your account. The check can't bounce.

Both types of checks can be forged. It's easier to forge a certified check so many title agents will no longer take certified checks.

Many title underwriters require a wire for this reason. If we continue to see claims due to forged cashiers and certified checks, look for a switch to ALL WIRE funding at some point in the future.

Saturday, April 08, 2017

living in each other's houses?

I just met with neighbors to sign their lots/houses to each other......the one neighbor purchased their lot and then built a new home on their lot in 1961.  The other neighbor bought their lot and home in 2015 (since 1960, the property has been transferred 4 times).

The legal descriptions/lots showed that the homeowner in 1960 and 1961 built their homes on the wrong lots!!!

Thank goodness each current owner understood the circumstances and cooperated with each other to transfer the correct lots to each other.  Problem solved.

I just ask myself...why wasn't this caught sooner?