The Payments section allows buyers to review and confirm how the property purchase was funded, including the amounts they personally provided and any deposits already paid into escrow. Buyers can add new payments, adjust entries created by the title company, or completely replace incorrect information so the final report accurately reflects how the transaction was financed.
When Payments Are Created During Order Setup
During order creation, the title company enters the purchase price, escrow deposits, and any payment details they know at the time. If a transaction has more than one buyer, these initial payments are automatically assigned to Buyer 1 as a starting point. Once buyers access the payments section, they may edit these entries or remove them entirely if they are inaccurate.
Escrow Payments and Automatic Calculations
If the title company entered an escrow deposit during setup, that amount appears automatically as a second payment. The system immediately deducts it from the remaining balance and uses this entry to show how much has already been paid toward the purchase price and how much is still owed at closing. Buyers can update this escrow amount at any time if the deposit changes or was entered incorrectly.
Buyer Payment Section Overview
The Buyer Payment section displays every payment a buyer has made or plans to make toward the purchase. Buyers may review these entries to ensure accuracy, make corrections, or add new payments that were not entered by the title company. This section ensures the FinCEN filing reflects the true flow of funds for the transaction.
A Non-Bank Loan, Hard-Money Loan, or Seller Financing Was Used
This selection is used when the buyer’s payment came from a funding source outside a traditional banking institution. It applies to hard-money lenders, private lenders, or situations where the seller provided financing directly. Buyers should choose this option whenever the payment did not originate from a standard bank account, ensuring the system accurately reflects alternative funding used in the transaction.
Payment Amount
Each payment includes a Payment Amount, which represents the dollar value contributed toward the purchase. All amounts must be listed in U.S. dollars. Buyers may adjust this value at any time if the original entry is incorrect or if the payment should be split into multiple entries.
Payment Method
The Payment Method indicates how the funds were transferred, such as wire, cashier’s check, non-bank loan, seller financing, cash, or another form of payment. This detail helps determine whether the transaction meets FinCEN reporting requirements. Buyers can update the method if the initial selection does not reflect what actually occurred. The most common payment method is wire transfer.
Account Number
If a payment was made by wire or bank-issued check, the buyer may add or correct the originating account number. This field can be edited at any time if the title company left it blank or recorded the wrong value.
Financial Institution Name
Each payment also includes the name of the bank, credit union, lender, or financial provider responsible for sending the funds. Buyers should confirm that the institution listed is accurate and update it if needed to match the true source of the payment.
Associated Transferees
Some payments may come from someone other than the buyer, such as a parent providing a gift wire, a business partner contributing funds, or another third party. These individuals are considered Payors. In other cases the source of the funds can be the buyer’s LLC, their revocable trust, a trustee’s personal account, or an owner’s personal account when the buyer is an entity. Buyers may add or remove transferees to ensure the payment record correctly reflects who actually sent the money.
Adding Additional Payments
Buyers may enter as many payment records as necessary to match the full set of wires, checks, third-party contributions, or financing sources used to complete the purchase. This is especially important when multiple payments were sent from different accounts or when outside contributors provided funds. Adding each payment as its own entry ensures the system captures the complete financial picture.
Correcting or Replacing Payments Entered by the Title Company
Every payment field is fully editable. Buyers may revise the amount, method, account details, or transferees on any payment. This flexibility ensures that incorrect or incomplete information from the order setup does not affect the accuracy of the report.
Buyer Control Over the Final Payment Record
Buyers maintain full control over the final version of their payment data. Even when the title company provides estimates or placeholders during order creation, buyers can update the section to ensure it matches the actual flow of funds. Before completing this section, buyers should confirm the total amounts paid, payment methods used, the correct financial institutions, all third-party contributors, and the accuracy of escrow deposits.
Contacting Support When Chat Isn’t Available
If live chat is offline, you’ll see a note saying chat support isn’t available right now. You can still reach us by sending a support ticket.
To do this, click the Support button in the bottom-left corner of your dashboard. Type a short description of the issue, confirm your email or phone number so we know how to reach you, and choose whether you want a reply by email or phone.
Once you submit the ticket, our team will review it and get back to you during business hours.
