Deed In Escrow Vs Getting The Deed?
I was wondering what peoples' thoughts are about having a sub2 seller agree to deposit their deed in escrow instead of providing the deed directly to you, in the case of buying subject to the lendering accepting a short sale.
I once heard that title/escrow companies can provide that service, but I've never actually spoken to a buyer who's used this technique. Have you?
I can see how it might provide a somewhat hesitant seller the comfort to allow you to proceed (easier than handing the deed right over). On the other hand, it's still not like having the deed in possession, and, could pose difficulty, if you decided you have to record the deed for protection.
Your thoughts?
Martin
Comments(0)