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Updated almost 9 years ago,
Escrow funds to cleanup property
Florida
The seller made a huge mess in the yard after we went into contract. There is now a pile of debris. The unit is also missing some appliances now. If he decides not to rectify the issue, how do we get the seller to escrow funds for the cleanup? The seller seems to be trying to find a way to back out of the deal according the the seller agent. Should I try to escrow funds or just send a bill after the sale? I know I may never collect. I also don't want the guy to back out. Here is what the contract states:
If, prior to Closing, Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 a sum equal to 125% of estimated costs to meet the AS IS Maintenance Requirement shall be escrowed at Closing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall pay such actual costs. Any unused portion of escrowed amount(s) shall be returned to Seller.
11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain the Property, including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date (“AS IS Maintenance Requirement”).