Do buyout funds need to be wired on refinance day? | NC

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Q: Will the buyout funds need to be wired to the closing attorney on the day of the refinance, and how does that process usually work? A: Usually, yes, any cash the buying co owner must bring to complete the buyout needs to reach the closing attorney at or before the refinance closing, in a form the attorney can treat as collected and available. That is often done by wire into the closing…