BIG QUESTION

[Wan No]

I am going through a private lender to do my first rehab on a HUD home b/c my conventional fell through on the last min. I don't have much time so I was trying to find a private investor or lender asap and I found one whose states he needs to hold my repair budget money in escrow. He will control the money where he would give the checks to the contractors and also to myself so I could buy the supplies.

I feel kind of uneasy about this because he would have full control of my cash, does this sounds like a normal procedure ?????