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If I release money from escrow to the seller is that money part of what the seller would receive any

The seller of the house I am buying is claiming to be broke,and suffering financial hardship cause our deal is in overtime. He has asked me to release some funds to him from escrow. Does this money count towards , our deal, my bottom line?
Or I am just giving him money?
  • August 04 2014 - San Francisco
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Answers (1)

Best Answer

Typically, it would count toward the purchase of your home. However, you would want to make sure that it's written into the escrow amendment very clearly identifying this fact. More importantly, why is the escrow in "overtime"? If you are having structural problems with the loan, getting clear title, short sale approval or the like, I would VERY STRONGLY caution against passing money to the seller through escrow. It is very difficult to get it back. Basically, if the deal doesn't close, you may very well be just giving the seller money!
  • August 04 2014
  • 1Yes

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