Legal Question in Real Estate Law in Nevada

escrow closing questions

what should I do when funds are not put in escrow account by the closing date?

Asked on 2/26/07, 8:55 pm

2 Answers from Attorneys

Jeffrey Cogan Law Offices of Jeffrey A. Cogan, Chartered

Re: escrow closing questions

If you want to keep the deal, extend the close of escrow. Otherwise, cancel the deal and put the property back on the market.

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Answered on 2/27/07, 1:23 pm

Steven Lynes Lynes & Associates

Re: escrow closing questions

If the buyer has not deposited the required funds by the deadline in your purchase agreement, he is in breach of the agreement. Check the purchse agreement -- there is likely a provision regarding a demand to perform or notice of breach. If you have an agent -- they should have handling this issue. That is part of the agent's job.

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Answered on 2/26/07, 9:08 pm

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