Escrow question

[ajengel]

Hi,

I just got 4 properties under contract and I am looking to wholesale all of them.  The seller is an investor who is selling off his portfolio.  I will close on these if I do not find a buyer, but since I am looking to wholesale them, I am stuck for an answer to the seller's question.

The seller asked me when I am going to open escrow and what title company I am going to use...how do I answer this question?   (I am in PA if it matters.)

My past dealings have been through an agent primarily involving REOs.  This is my first deal without an agent dealing directly with the seller, so I was not prepared for this question.

Any help is greatly appreciated.

Thanks,

Alan

[rgchamb]

Not sure how things are in PA (even though I grew up there).

Here in TX, when I get properties under contract, the Title Company, escrow officer, and earnest money amount are all listed in the contract.  You might want to see if PA has a standard contract.  Otherwise, get one from an attorney.