How to Wire Money for Closing: What Homebuyers Need to Know

Redfin News

by Ashley Cotter

February 20, 2026

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Wiring money for closing a home purchase can feel overwhelming, especially when dealing with large sums of money. However, it’s a standard and secure process if you follow the right steps. Wire transfers allow funds to move quickly, often within the same business day, making them a preferred method for finalizing real estate transactions. Homebuyers typically wire their down payment, closing costs, prepaid taxes, and other fees directly to the title or escrow company. Understanding how to execute this process safely and efficiently is crucial for a smooth closing experience. One of the most critical steps in wiring money for closing is verifying the wire instructions provided by the title or escrow company. These details usually include bank name, routing number, account number, and beneficiary information. Fraud attempts often involve fake instructions sent via email, so it’s essential to confirm these details over the phone using a verified contact number. Always double-check the routing and account numbers with the company before proceeding. Another key consideration is your bank’s wire transfer policies. Banks may have daily limits or require additional documentation for large transactions. Homebuyers should review their bank’s rules in advance, especially if their closing amount exceeds the daily limit. This might mean requesting a temporary increase, splitting the transfer, or visiting a physical branch to initiate the process. It’s also important to be aware of wire transfer fees, which can range from $15 to $50 for domestic transfers, and confirm how these fees will be handled. Timing is equally crucial when wiring money for closing. Banks typically have cut-off times for wire transfers, often between 2pm and 4pm on business days. Homebuyers should ensure they initiate the transfer well before these deadlines to avoid delays. Additionally, having the funds cleared in advance and reviewing the closing disclosure carefully will help you understand exactly what needs to be paid at closing. Finally, staying organized and prepared is key to a smooth closing process. Keep copies of all wire instructions, confirmations, and receipts for your records.

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Originally published on Redfin News on 2/20/2026