I had some challenges this week regarding the subject. I think I have worked it out and will know more after this weekend. The issues are as follows:
1. Seller does not have an attorney. Makes getting legal points difficult to get across to her.
2. Seller does not have enough funds to close out her debt to bank or to move out and have money to rent a house to move.
3. Seller thinks she knows it all ( "I do dis tree times be for") and suggested various proposals that would put ALL the risk in my corner. My answer was I walked away for a few hours. Gave her and the real estate agent notice that I would withdraw the verbal offer in 24 hours. New proposal from agent in two hours.
4.I offered the idea of "an escrow" account and was surprised how much push back I got early in the negotiations. What I have worked out doesn't include an escrow account which seems to bother the other side.
To the members that have experience...are escrow accounts for selling and buying real estate in the DR so strange??
1. Seller does not have an attorney. Makes getting legal points difficult to get across to her.
2. Seller does not have enough funds to close out her debt to bank or to move out and have money to rent a house to move.
3. Seller thinks she knows it all ( "I do dis tree times be for") and suggested various proposals that would put ALL the risk in my corner. My answer was I walked away for a few hours. Gave her and the real estate agent notice that I would withdraw the verbal offer in 24 hours. New proposal from agent in two hours.
4.I offered the idea of "an escrow" account and was surprised how much push back I got early in the negotiations. What I have worked out doesn't include an escrow account which seems to bother the other side.
To the members that have experience...are escrow accounts for selling and buying real estate in the DR so strange??
