top of page
  • Writer's pictureKelomi, Inc.

What to Know About Wire Transfers

Updated: Jul 13, 2020

A wire transfer or bank transfer is something that is a common and an often necessary part of a real estate transaction. It is the process of transferring money electronically from one person (or entity, like a bank) to another person (or entity).

In most real estate transactions, the buyer will be paying money at settlement and the seller will be receiving money. The amount paid and received is determined by the lender and the closing attorney and is disclosed to the buyer and seller through a closing disclosure document.

Fraud Alert!

Real estate transactions are primary targets for fraud and it is important to take precautions whenever planning a wire transfer. Please read our blog on "How to Prevent Fraud in Real Estate Transactions."

How to set up a wire transfer

Wire transfers are not difficult but they do require you to have specific "wiring instructions" provided by the closing agent (usually the escrow agent is also the closing attorney). These instructions include the attorney's bank name and address, as well as the specific routing and account number for the attorney's trust account.


Always verify the account information with the escrow agent or your real estate agent over the phone prior to wiring any money. The specific account information must be correct or you risk transferring the money to the wrong location. This could lead to loss of those funds.

Here’s how to do it:

  1. Contact your bank

  2. Provide them with the specific wiring instructions provided by us or the closing attorney.

  3. Tell them the amount that needs to be transferred, which is provided to you on the Closing Disclosure (CD).

  4. Let them know when the money needs to be transferred. We recommend 24-48 hours prior to closing.

  5. The bank will transfer your money to the closing attorney and the closing attorney will put the money safely in escrow to be used at settlement.

The "Kelomi Way" - a concierge-style approach

As we do throughout the buying process, we will guide you through this step. We recommend that our clients use certified checks whenever possible instead of wire transfers. If using a certified check is not possible, we will let you know and provide the wiring instructions to you. Whenever possible, we will print the instructions and hand deliver them to you to reduce the risk of fraud. If we have to email you the instructions, we will follow up with a call to verify the instructions. If you ever receive anything that is different than what we have provided, please contact Karla immediately.


Kelomi, Inc. is a firm that operates exclusively in North Carolina. The information provided on this site pertains to North Carolina.

48 views0 comments

Recent Posts

See All


bottom of page