Home Selling in 86442>Question Details

transition20…, Home Seller in Bullhead City, AZ

Can I the seller ask the buyer that 50% of the deposit to escrow be released to me immediately if the buyer agrees?

Asked by transition2010, Bullhead City, AZ Sat Mar 30, 2013

I am not represented with an agent

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6
Annette Lawrence’s answer
Appearently you are, as stated, selling this home yourself (DIY) and are not using an attorney or title company. These can see signifcant issues, in all dimensions, regarding short and long term liablity....To THEM.
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I essense you are asking for a "FEE TO PLACE A PURCHASE OFFER." Now that is a novel approach. If the escrow is $5,000, your are imposing a $2,500 submission fee. Wow!
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Sure, go for it. You just might find an unrpresented buyer who is asleep at the wheel.
If, however, their brother, mother or son-in-law is an attorney, you may wake some morning in a house you can not sell at all.
0 votes Thank Flag Link Sat Mar 30, 2013
You can always ask... but it's highly unlikely that any buyer would release any portion of the escrow funds to the seller, prior to the closing.

If the buyer agrees... sure... but that's one huge "if".
1 vote Thank Flag Link Sat Mar 30, 2013
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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Why would they do that, transition?
0 votes Thank Flag Link Sat Mar 30, 2013
The short answer is probably "yes", but you are treading on dangerous ground. There is a reason for escrow and I'd respect it. Suppose the sale does not go through, suppose there is a flaw in your deed that no one ever discovered before, and you had already spent the money - what do you do now? Remember by using escrow money, you are acquiring money that is not yours (not yet).
0 votes Thank Flag Link Sat Mar 30, 2013
You can ask for just about anything, but I wouldn't agree, nor would I advise my client to do so. There are too many things that can go wrong and stop the sale from ever actually taking place. I would try to think of another solution if i were you.
0 votes Thank Flag Link Sat Mar 30, 2013
As long as the buyer and seller agree in writing and the action is not legal, everything is negotiable. On your next purchase, you should hire a Realtor.
0 votes Thank Flag Link Sat Mar 30, 2013
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