This was some good information passed along by my trustee title rep: Valerie Grijalva with First American Title

".........please note the new Good Funds Law that took effect today!  In a nutshell, wiring funds is the fastest way to avoid delays.  See below for further details.

NEW PROCEDURES FOR NEVADA:

1.      Funds must be "deposited" (in the bank), by law, before disbursements are made.   If funds are deposited, then disbursements can be made as follows:

a.      PERSONAL CHECKS, drawn on a Foreign Bank (including Canada), for any purpose including earnest money, will not be accepted, regardless of the closing date.  Request a WIRE.  Clearance of Foreign Checks (even cashier's checks) can take 45-60 days.  Any exceptions to this must be authorized by the accounting department.

b.      PERSONAL CHECKS, drawn on a U.S. Bank, may be accepted and deposited; HOWEVER, it is difficult to determine that a personal check has "cleared", due to privacy laws.   It is our policy to wait 30 days before disbursing these funds (for a closing, cancelation, or other purpose).

c.      WIRES create immediately available funds, and you may disburse funds upon receipt (assuming recordation has occurred, if applicable).

d.      CASH should not be accepted.  Refer to accounting guidelines.

e.      CASHIER'S CHECKS:

i.      If drawn on a Foreign Bank, including Canada, DO NOT ACCEPT.  Refer to (a) above.  Request a Wire.
ii.     If drawn on a Nevada Bank:  If the parties are willing to wait, deposit the check in the bank, then you must wait until the following business day to record/disburse.
iii.    Drawn on an Out of State Bank.  If the parties are willing to wait, deposit the check in the bank, then you must wait until THREE business days to record/disburse.

Again, to avoid delays in closings, we are strongly urging all customers, including Lenders, to WIRE funds."

 Bryan Knight, REO broker in Las Vegas, NV  702-845-8435