All parties must bring a valid photo identification card to closing.
Quality Title, Inc. adheres to the North Dakota Good Funds Law
In accordance with North Dakota Century Code Chapter 47-34, collected or good funds must be received from the lender/borrower/buyer/seller in order to close and disburse a real estate transaction.
Acceptable “Collected/Good funds” for closing are as follows:
- Wired funds unconditionally held by and irrevocably credited to our escrow account.
- A cashier check presented for payment for which payment has been made. The check has to be deposited in such a manner so the funds have been received and collected in our escrow account. (Must be deposited at least 3 banking business days prior to closing.)
- A check not to exceed $3000.00, which is drawn on the trust account of a real estate broker, licensed under Chapter 43-23 or on the trust account maintained by an attorney under the North Dakota Rules of Professional Conduct.
- A cashier’s check not to exceed $50,000.00 drawn on an existing bank, savings and loan association, credit union, or savings bank.
- A check drawn on the escrow account of another closing agent, if the closing agent in the real estate transaction has reasonable and prudent grounds to believe that sufficient funds will be available for withdrawal from the account upon which the check is drawn at the time of disbursement of funds from the escrow account of the closing agent in the transaction.
We are not able to accept Personal checks, Money market/Brokerage account checks, Industrial bank checks or Money Orders.
- Inform your closer if your buyer or seller requires extra “review time.” This way we will do our best to provide them with a closing package the day before closing.
- Inform your closer if there is an attorney involved in the closing. This way we can provide a closing package for them to review and they may not be required to attend the closing thus saving your customer unwarranted legal fees.
- Any Power-of-Attorney used for closing must be approved by Quality Title, Inc. and the lender involved prior to closing. Let your closer know ahead of time if the buyer and seller will not be closing together.
- Inform your closer ahead of time if any party pertinent to the closing is deceased.
- Inform your closer at least one week prior to closing if your sellers are divorcing and wish to have their package prepared and closed separately.
- Inform your closer if the closing will be a “mail-out” to either the purchaser or the seller at least one week prior to closing.
PLEASE NOTE: We require all wires for purchase transactions be received no later than 60 minutes prior to the scheduled closing time. For refinance transactions, we will require receipt of wired funds no later than 2:00 p.m. on the day of disbursement to avoid any delay in funding.