Seller asking for cash outside of escrow

[Roozbeh Afzal]

I am currently in negotiations with a distressed seller that has agreed to the purchase price, but has asked for 10k outside of escrow upon signing to put some money in his pocket and to help him get situated for his next move.

I was thinking to record a lien on the property and include this term in the purchase contract. Feels risky to me given that the seller could back out and not close and I’d be chasing them for 10k and likely never see that money again.

Anyone else have experience with this?

[Wayne Brooks]

@Roozbeh Afzal No way.  The best alternative is to give them 15-30 days occupancy after closing, but holding back a huge ($10k) escrow to ensure they vacate on time.