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Updated over 9 years ago on . Most recent reply

User Stats

29
Posts
3
Votes
Yuri Chernousko
  • Investor
  • Santa Cruz, CA
3
Votes |
29
Posts

Law firm drafting a sale contract acting as the escrow agent

Yuri Chernousko
  • Investor
  • Santa Cruz, CA
Posted

I am making an offer on a property in Florida.  The home is being sold by the owner, the owner/seller retained a law firm to write the offer.  I am more used to working through a realtor.  A few queries:

- What's the best service to have the offer reviewed?

- The seller/owner's counsel (who wrote the offer contract) is also their designated escrow agent.  Is this a conflict of interest?

- I am making a cash offer.  I do not know if the owner/seller has any balance to repay to a bank.  Should I be looking closer into their situation?

- Any other scenarios I should be concerned about as far as the title search, etc.?

Thank you.

Yuri

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