Posted by Ed Mitchell on December 11, 2003 at 13:37:31:
Whoops…sorry. I’m in CA. This was more or less a f/u to my earlier post.
The escrow company said it’s a “gray area.”
concurrent escrow - Posted by Ed Mitchell
Posted by Ed Mitchell on December 11, 2003 at 07:16:43:
I have been told that one cannot open an escrow without closing a previous escrow on the same property. Where is this legislation and what are the consequences of violating it?
Re: concurrent escrow - Posted by John Merchant
Posted by John Merchant on December 11, 2003 at 13:34:26:
“Where is this legislation and what are the consequences of violating it?”
Since legislation is state by state, and thete’s no such thing as one big body of legislation in the sky somewhere, you’ll need to tell us where the RE is.
Cutting through the junk, though, why don’t you just ask the escrow company to give you the info on what they’re talking about…maybe there is a law, maybe it’s just an escrow co. rule they follow so they don’t get in trouble on unfinished escrow they’ve already got.