Mark's Blog

March 23rd, 2010 10:02 AM
I had someone ask me a good question today about short sales. It was regarding paying for real estate taxes for the seller prior to closing.  This is a good question and one that is very important. As the buyer, you DO NOT PAY ANY fees, taxes, or anything directly to the seller or the seller's lender prior to closing. You will never see this money again.  All money must be put into an escrow account held by one of the brokers (not the agent or the seller) or one of the attorney's escrow account. All payment must be on the HUD-1 statement and credited by the title company.

There are a lot of scams out there, do not give money to anyone without a license and never give cash. Always write a check or get a cashier's check (make sure you keep your copy).

Mark

Posted by Mark Malave on March 23rd, 2010 10:02 AMPost a Comment (0)

Subscribe to this blog
Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:

American International Realty Corp. 6138 N. Lincoln Ave Chicago, IL 60659
Phone: Fax:

Why Choose Me | Contact Mark Malave | First Time Buyers | Real Estate News | Mark's Featured Homes | Home | Request Industry Info | Winterize your Home | Mark's Blog

Copyright © 2012 American International Realty Corp.
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map
All rate, payment, and area information are estimates and approximations only.