Question Details

Carlos Estra…, Real Estate Pro in Miami Beach, FL

Should a buyer send money to the escrow account of the seller without having an executed contract?

Asked by Carlos Estrada, Miami Beach, FL Fri Apr 5, 2013

I'm an agent and my client's (buyer) offer was accepted on a multy offer situation. Now, seller (Premier Asset Services is the agent)wants deposit to go to escrow account chosen by them. Once they receive the money, they will sign the contract. Does this sound right?

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If you are dealing with a bank owned property and that is what they are asking for then that is probably what you will need to do for them to sign the contract. Just read through their bank addendums very carefully and make sure you understand the time frames and make sure that you have the correct contingencies written into your offer such as home inspection and finance contingencies to name two of the most common.
0 votes Thank Flag Link Fri Apr 5, 2013
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