Wire Transfer

A wire transfer is an electronic, bank-to-bank funds transfer that settles same-day for domestic transfers and is the standard mechanism for moving large sums in real estate transactions. Wires are irrevocable once sent — there's no chargeback, which is why wire fraud in real estate is a meaningful risk.

Closing wires typically move: the buyer's cash to close (down payment + closing costs), the lender's loan proceeds, and the seller's net payout. Each direction is verified through standard banking channels with multiple confirmation steps.

Why it matters for Milo customers

Milo crypto-backed loans fund via wire transfer — once your collateral is in custody and the loan is approved, the cash hits your bank account in hours, not days. For mortgages, the wire mechanics work the same as a conventional close: title company handles the wire choreography on closing day.

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