Making The Initail Offier & Earnest Money
Hello,
I have been told by other investors that the earnest money should be placed in a title insurance companies escrow of your choice. My question is when does this happen? Do send a check directly the sellers agent for deposit into the account of my choice or I should place the earnest money in the account of my choice, and then make the offer? Thnx :-?
I would mail the payment to my title agency trust account or an attorney trust account and have them fax over receipt of the deposit to the seller as proof. This way, your money is safe and yet show proof to the seller that you are serious and have the money to do business.
if the house you want to buy is listed with an agent i suggest you play by their rules. Sometimes they have an exclusive title company and if you make the check to their tiitle company then noone else can cash it so i dont see a risk. You want to make a good and confident impression on the sellers agent so your offer will be taken seriously. I dont thnk insisting on your way will help the deal happen. Now if you are dealing with the seller directly then put it in your title company with a copy thats fine