Escrow Penalty? - Posted by Sedano Family

Posted by Terry (Houston) on September 20, 2001 at 06:16:34:

What does your contract say?

Are they in the ‘inspection’ period? The first person you should be asking is your realtor. They are the one that will give you advice as to whether they "can’ do this or not.

If this is a negotiations ploy then you have to decide if you want to go through with the deal or not.

But if they have an out they could use it to take back any escrow funds they put down.

Talk to your realtor, they represent you, and should be giving you all the different options you have at this time.


Escrow Penalty? - Posted by Sedano Family

Posted by Sedano Family on September 20, 2001 at 02:08:04:

We are in the middle of escrow, Appraisals have been done… Everything approved, Final documents are signed…Not recorded, but all real state agents are waiting for are buyers MONIES… The day buyers are suppose to turn in their monies… they want changes (texture walls, laundry room re done !) or alse $1500. for the new changes. What if we dont budge? What if they cancell? Do they pay a penalty? What now? No where in the contract (appraiser’s document) does it say this needs to be done. HELPPPP! What now?