Contents
Overview
Sources
Wet or Dry Settlement
Wet
Definition
The funds provided by a mortgagee at a real estate closing must be in one of the following forms: (1) Cash; (2) Wired funds or electronic transfer; (3) Certified check; (4) Cashier?s check, teller?s check, or treasurer?s check; (5) Checks issued by a governmental entity or instrumentality; (6) Any transfer of funds by check or otherwise that are finally collected and unconditionally available to the settlement agent; (7) Checks or other drafts drawn by a state-chartered or federally-chartered financial institution; (8) Checks or other drafts drawn by a state-chartered or federally-chartered credit union; or (9) Checks issued by an insurance company licensed and regulated by the department of insurance. NH Rev. Stat. Tit. 48 ?477:52.
Requirements
Must have good funds at or before closing.
Exceptions to Requirements
N/A
