Today's banking convenience with electronic processing and debit cards is great but they can lead to one problem in your real estate transaction. It's important to have a "Paper Trail" that shows everything that goes in and out of your accounts related to the transaction and the amounts have to be an EXACT match. Here's some simple rules to follow that will make things go smoother as you work with the lender and title company to get things moved from offer to closing:
New laws like the Patriot Act, regulations designed to reduce mortgage fraud and conservative lender underwriting requirements may seem like they give you hoops to jump through, but keep in mind tha you're asking the lender to trust you with a large amount. They don't loan their own money, but the funds deposited by investors and have an obligation to make sure that investor has the best possible chance to get a return on their investment. Help them help you by staying organized and doing things in a way that not only gets it done but show independent verification it was done right. You'll save time and reduce stress for everyone!
If you have a question about any aspect of the process, remember, your agent is there to help and answer questions.