Personal Checks, Real Estate Closings, And The Trust Divide
We will close on the sale of our Birmingham house next Friday. Preparing for the closing, I was reminded of a small – but significant – difference between Birmingham and Philly (and I’m guessing many large cities.) In Birmingham, by tradition, a buyer’s down payment on the house can be provided via a personal check. When I mentioned that to our agent in Philly, she was aghast. What happens if it bounces??? In Birmingham, people just figure they know where to find you.
All the usual caveats – I’m not promising that people of all demographic or economic groups receive this treatment. But this does seem to be S.O.P. for real estate closings here. Another bennie for those who live in the Colonial Williamsburg of the Eisenhower Era.