Wrong initial on bank draft | closing home tomorrow

not a big deal..... don't worry and sort it out tomorrow.

We'll see. It definitely won't go through though. Guess this is where is would pay to have a regular bank account vs. simplii.

1. Have to go to CIBC tomorrow and ask if they can change the name on the draft. If they can't
2. Ask a supervisor to speak to a simplii supervisor via phone, to have the issue corrected. If they can't
3. Have to deposit the draft back to my account and issue a new draft.

The issue is that signing is tomorrow, and lawyer does not work on Friday. House closes on Tuesday, Dec, 19th. Worst case scenario there is Monday. Can lawyer papers be signed 1 day before closing? Is that enough time, to transfer the funds to the builder from the lawyers account / mortgage issuer?

Lawyers office said it should go through, they will sign off with a different initial.

Forgot to ask, but wondered if a bank draft for $200K should be signed and endorsed on the back?

reggyDeal wrote: ↑ Lawyers office said it should go through, they will sign off with a different initial.

Forgot to ask, but wondered if a bank draft for $200K should be signed and endorsed on the back?

I've never had to do this in the past. The only important information is on the front and as long as it's complete that's it. A bank draft is treated just like cash, to a certain extent. Just don't try telling the teller that you'll take it all in hundreds.

The draft went through. Guess it's not a big deal for initial to be different, or they just signed of on it via a different middle name initial.