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All Funds Are Not Created Equal...


What Are Good Funds?

Good Funds are funds that are immediately available upon deposit. These are paid in the form of a certified check, cashier’s check, official bank check, or wire transfer. These types of payments are ones that cannot be stopped by the paying party. When submitting Earnest Money, these are the best types to use to ensure funds are received and can be returned (if need be) in a timely manner. Depending on the types of funds deposited, there may be a waiting period applied before funds can be disbursed or the transaction can close.

What Are Not Good Funds?

ACH Deposits and/or Personal Checks, however, are not considered Good Funds. Since these can be recalled by the payer for a period of time after being submitted, as well as, have a possibility of bouncing due to Non-Sufficient Funds. If Earnest Money is deposited via ACH or Personal Check and is needed to be returned due to circumstances like mutual releases, there is a waiting period of approximately 21 days before these can be distributed. This hold is due to Financial Institutions rule of holding funds for a period of 10-14 business days, typically.

What About for Closing Funds?

Per the Ohio Revised Code Section 1349.21, all funds for closing totaling $10,000.00 or more must be sent via wire transfer. All closing funds must be deposited in the Title

Agency's Escrow Account on or before the day of title transfer. Due to this stipulation, Closing Funds should be wired to ensure no delays in closing.


We encourage all submitting any funds to deposit using a wire transfer. These funds are then immediately available, and the funds have already been verified by the sending bank. However, if you have any questions regarding your specific transaction, please feel free to contact us at (440) 835-4505 or We are happy to help!

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