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Download a copy of this checklist for your convenience

Buyers and sellers MUST bring a valid photo identification card to closing


Buyers MUST have COLLECTED or GOOD FUNDS to close

NORTH DAKOTA GOOD FUNDS LAW


Section 47-34 of the North Dakota Century Code, relating to good funds for real estate transactions, has been amended, and

effective August 1, 2013 and further amended effective August 1, 2015, can be summarized as follows:


“Collected funds" means a cash deposit or a check that has been presented for payment and for which payment has been irrevocably credited to the closing agent's escrow account.


“Good funds" means funds in any one or more of the following forms:

1. United States currency (up to $3000 accepted by Bismarck Title Company).

2. Wired funds unconditionally held by and irrevocably credited to the escrow account of the closing agent (must be in escrow account prior to closing).

3. A check that has been presented for payment and for which payment has been collected (personal checks limit of $500).

4. A check that is drawn on the trust account of a real estate broker licensed under Chapter 43-23 or on the trust account maintained by an attorney under the North Dakota Rules of Professional Conduct, for which funds are collected funds by the real estate broker or the attorney's trust account.

5. A cashier's check not to exceed fifty thousand dollars ($50,000) in the aggregate which is received by the closing agent and which is drawn on an existing account at a bank, savings and loan association, credit union, or savings bank chartered under the laws of a state or the United States located in ND, MN, MT, or SD.

6. A check drawn on the escrow account of another closing agent in ND, MN, MT, or SD.

7. Funds transferred to the closing agent's escrow account by the bank, savings and loan association, credit union, or savings bank that is the host institution of the closing agent's escrow account.


New Section 47-34-02.1. Acceptance of funds by closing agents.

1. At or prior to closing, a closing agent may accept a cashier’s check for loan fund, if that check is delivered to the closing agent by a local issuing bank, savings and loan association, credit union or savings bank, located in the same county as the closing agent or in a contiguous county.

2. The closing agent shall deposit the cashier’s check in the agent’s escrow account with a local financial institution that makes the funds available for immediate withdrawal, prior to the disbursement of funds.


Key items are as follows:

- No limit on earnest money check drawn on collected funds of a real estate broker trust account (formerly $3,000).

- Limit of $50,000 for cashier's checks from buyers/sellers presented at closing. All buyer/seller funds over $50,000 (except those under “Good Funds” definitions 4, 6 and 7 above) must be wired (pursuant to “Good Funds” definition 2 above). Bismarck Title Company requires cashiers checks drawn on banks (ND, MN, MT, SD) clearing through the 9th Federal Reserve district or the Bank of North Dakota.

- No limit on loan funds from local lenders in the form of a cashier’s check, pursuant to Section 47-34-02.1 above.


Title companies operate in a complex legal and regulatory environment on the state and federal level. Choose a title company that understands and follows these laws and regulations:


Choose BISMARCK TITLE COMPANY – it matters!

Inform your closer if your buyer requires extra "review time." This way we will do our best to provide them with a closing package the day before closing.

Inform your closer if there is an attorney involved in the closing. This way we can provide a closing package for them to review and they may not be required to attend the closing thus saving your customer unwarranted legal fees.

Bismarck Title Company, Morton County Title Company, (and Lenders) must pre-approve any Power-of-Attorney to be used in a closing.

Let your closer know ahead of time if the buyer and seller will be closing together.

Inform your closer ahead of time if any party pertinent to the closing is deceased.

Tell your closer if your sellers are divorcing. We can prepare separate package and even close separately, if necessary. (Please let your closer know one week prior to the closing).

Let us know if anyone involved in the transaction is physically or mentally impaired so we can make appropriate arrangements.

Inform your closer if the closing will be a "mail-out" to either the purchaser or the seller well ahead of the closing date. (Please let your closer know one week prior to the closing).

Save the champagne for after the closing. Everyone MUST be sober for us to notarize his or her signatures.

PLEASE NOTE: We will require that all wires for purchase ‘transactions be received no later than 60 minutes prior to the scheduled closing time. For refinance transactions, we will require receipt of wired funds no later than 2:00 p.m. on the day of disbursement to avoid any delay in funding.