What is Escrow and Why You Need a Lawyer
If you are interested in purchasing a home, you will be required to place funds into escrow at the outset of the transaction. This is referred to as “good faith” escrow to secure the buyer’s performance under the terms and conditions of the contract of sale.
Real estate lawyers in Orlando Florida are familiar with escrow and should be consulted before any escrow is paid by the buyers. Nishad Khan is the attorney that Orlando buyers have come to know and trust with respect to their real estate transactions, and you should contact his office today before you pay any escrow funds to any party to your transaction.
The contract of sale for real estate contains language which places the escrow beyond the reach of the purchasers so as to induce their good faith performance. That escrow may be forfeited if the buyers do not act in good faith or with diligence. Typically, the title company handling the transaction holds escrow. However, in some instances, the attorney for the buyer can hold escrow in his or her attorney escrow account.
Nishad Khan has the necessary experience to handle your real estate purchase transaction and to hold escrow on your behalf. Consulting with and retaining one of the finest real estate lawyers in Orlando Florida should be your first move, even before signing your purchase contract.
Escrow is serious business and you want to have an experienced attorney on your side so that you do not forfeit your hard-earned money in the event of a default. The only way to protect your escrow is to have an attorney review your contract and handle your transaction from start to finish. If you are purchasing a home and are seeking an attorney, contact Nishad Khan today at 407- 228-9711 and schedule your consultation.