It would be soooo nice if Real Estate deals could be consummated with a hand shake and a kiss. A gentlemen's agreement to act honorably and do everything as promised.
That's soooo not happening in the real estate world.
Real Estate Agents may not be lawyers, but we have an obligation to pass on these bits of wisdom to our clients.
One rule that should be explained in depth is that, "if the sale closing or rental move-in is happening within 30 days, a cashier's check or bank check is given." That means NOT a personal check.
Clients get skwormish on both sides of this one. The check writers are taken back that their financial intentions are questioned. The check receivers don't want to appear paranoid, especially at the beginning of a year rental.
After being in this business for 12 years and witnessing what a bounced check can do to aggravate a deal, the parties in the deal, and the brokerage support staff, there is NO better solution than a cashier's check. As the saying goes, there's no better offense than a good defense. (Just ask Malcolm Butler of the New England Patriots who made the best defensive move in Sunday's Super Bowl!)
Following this rule prevents a buyer taking possession of your house but you still have to chase them down for a final check. It prevents a tenant after moving in and having the landlord chase them for the first and last month's rent.
These are both bad situations to be in.
Real Estate Rules and Regulations are well thought out by Real Estate Lawyers and Brokers who have seen "the bad" situations and have come up with an equitable solution for all. This one is simple, within 30 days of the settlement, a cashier's check is best.
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