Responsible clients live up to their obligations as spelled out in the agreement of sale. The agreement of sale, once signed by both parties who are legally empowered to sign, is a legal contract binding on both. One of those responsibilities is to provide escrow payments on time as promised.
George (fake name) wanted a bigger house for his family. He got approval on the internet for a mortgage of $175,000. He didn't want to take on that much and we looked for a $75,000 home for him and found it. We made an offer and it was accepted with $6,000 to be paid into escrow, half with the offer and the other half ten days later. He provided a check for the initial payment with the offer, and 10 days later, he came across with the second installment, right on time. Both checks were good.
He ultimately didn't get his house because the mortgage fell through.
I'm trying to create savvier real estate customer. Is this working?
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