Anyone know about early closing where they hold $ in escrow?
Valentinegirl
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Anyone know about early closing where they hold $ in escrow?
The real estate woman suggested we ask our lawyer to close now because it could take long for the inspector to come back out and check our extensions after the electrical was updated. Anyone heard of this? She says its done all the time. They hold $ in escrow til we get the papers we need from the town.
Kriss2c
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Re: Anyone know about early closing where they hold $ in escrow?
What happens if there is problem with getting the C/Os from the town... does it then fall in your lap because you already closed?
Valentinegirl
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Re: Anyone know about early closing where they hold $ in escrow?
The inspector came and said the electric needed to be updated in the extensions and the side awning had to be taken down. That was all done last week. They are just waiting for the inspector to come back out to make sure it was done. Its just a matter of getting an appointment w/ them. We are asking our lawyer today if its worth it to do this.
Charly
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Re: Anyone know about early closing where they hold $ in escrow?
Yes...we had the seller's hold $ in escrow. It wasn't a big deal, as long as both parties agree, and a fair amount of $$ is held.
Becareful though...we overlooked something, had the lawyers release the money and now we are stuff with fixing it ourselves.
Valentinegirl
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Re: Anyone know about early closing where they hold $ in escrow?
Posted by Oct04Bride
Yes...we had the seller's hold $ in escrow. It wasn't a big deal, as long as both parties agree, and a fair amount of $$ is held.
Becareful though...we overlooked something, had the lawyers release the money and now we are stuff with fixing it ourselves.
I'm sure everything is done that the inspector wanted done. It was just the electric and the awning which I saw was done. They even added more lights in certain rooms. The real estate lady said this early closing is done often. Were you waiting for the same thing as us, C/O's?
