I am involved in negotiating a short sale on a foreclosed property. The bank says no sale proceeds to owner, which is typical and understandable. The owner, a packrat, has agreed to completely clear the house of massive debris (i.e. provide a service) for a fee, which will help her with moving expenses. So this fee is for a "service" (not for sale of the home) and will not appear on the closing forms. Therefore, this owner wants proof somehow that I will pay her at the end. How do I set up an escrow situation for this "fee" payment. After closing, if she cleans house, I will give money. Do I go to a bank? Do I go to a court? Not sure how to set this up. Please help. :)
2007-09-02
03:55:38
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6 answers
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asked by
Anonymous
in
Renting & Real Estate