Purchase Offer

[Daniel H.]

Making my first purchase offer without using the assistance of a realtor. The listing agent told me the realty company to make the deposit check out to. How can I make sure this money is going to be handled properly and the name she gave me is not a made up company that she owns.

Thanks.

[J Scott]

I generally prefer to make the EM check out to the closing attorney or title company that will be handling the closing. This way, you don't have to worry about bias if there is a dispute over the EM, and you can be more certain that the EM is being handled appropriately (attorneys have more to lose than brokers if they improperly handle money).

So, in the contract, specify that the EM is to be made out to the closing agent and then send them the check.