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Home Selling in 99502 : Real Estate Advice

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Thu Apr 6, 2017
Sunnie Houle asked:
Thu Aug 14, 2008
Curt answered:
It completely depends on how the contract was written. However, if you funded the escrow with money that was intended to repair the deck, then that money *should* be released to you. I imagine the intent from the buyers agent was to insure there were sufficient funds to repair the deck after the sale (since you couldn't make the repair during the winter), so you set up the account with your money. Now, who makes the repair? Depends on what the contract says, but if the buyer is already occupying the house...I would think the agents would have negotiated for the buyer to repair it (with your money from the escrow account). Having said all that, CHECK THE CONTRACT. It could very well say that you are responsible for the repair...EITHER WAY, as long as the money in the escrow account is clearly marked for the repair then neither agent or buyer should reasonably expect you to make the repair out of pocket...(without using your escrow money). ... more
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