Preclosing Error: Large Bank Deposit Causing Delay
A couple buying a seller’s home in Alberta deposited $8,000 in cash into their checking account three days before closing. Their father had given them money to buy new furniture and appliances for the house. Their bank checked balances the day before and it was “dinged,” as this particular transaction required a gift letter. The father had just travelled to the Rocky Mountains for a hunting/fishing trip and no one could reach him. This delayed the closing by two weeks.
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