Good Funds in Georgia

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Wet or Dry Settlement



A lender must deliver funds to the settlement agent at or before closing. The funds must be in one of the following forms: (1) Collected funds, i.e., funds deposited, finally settled, and credited to the settlement agent?s escrow account; (2) A certified check, cashier?s check, treasurer?s check, or similar primary obligation of a federally insured bank, savings bank, savings and loan association, credit union, or any holding company or wholly owned subsidiary of the foregoing; (3) A check or draft issued by a lender approved by the United States Department of Housing and Urban Development; (4) A check issued by a lender qualified to do business in Georgia; (5) A check drawn on the escrow account of either an attorney or real estate broker licensed in Georgia, provided the settlement agent has reasonable and prudent grounds to believe that the deposit will constitute collected funds in the settlement agent?s escrow account within a reasonable period; (6) A check issued by the United States or the State of Georgia or any agency of either of the foregoing; or (7) A personal check or checks in an aggregate amount not exceeding $5,000 per loan closing. GA Code 44-14-13(c).


The lender shall at or before the loan closing deliver loan funds to the settlement agent in the form of collected funds or in the form of a negotiable instrument described in GA Code 44-14-13(c). GA Code 44-14-13(d).

Exceptions to Requirements