Updated almost 6 years ago on . Most recent reply
escrow?
tiny village in ohio:
seller wants 20k. told him can't do that much, afraid market won't bring it. would be much lower. but i still put some feelers out and suggested 35k price. someone messaged me saying they want it for 20k cash. i don't have any contracts in place yet.
thinking maybe these guys might know each other since this is a small area and they might be trying to toy with me.
but if the buyer is legit, i want him to put the $20k in escrow until i can do a double closing.
if all goes good, i might need transactional funding but those fees... that's a big chunk of the money.
i just don't want to be stuck owning the property if these guys are playing me.
what would you seasoned folks do in this situation?