Is Escrow The Only Answer?
I have a small parcel of land that a long-time friend of the family wants to buy. Unfortunately it is located 800 miles away as is the friend. I want to send him a quit claim deed and he wants to send me a cashiers check, but we both feel the need to cover our bases. What if the check gets lost in the mail, etc. Is there a paper trail that makes more sense then jumping into an escrow process? Time is of the essence here as I need themoney asap. Thanks
Sometimes we try to save a dime and it cost us a dollar. Working with a friend has very little to do with it. Save your friendship and maybe, a lot of headaches and do the transaction by the book. The cost to close with a Title company is a lot less than a lawsuit and it's only a phone call away.
Also you could do a wire transfer directly to your bank or "Title company". I try to keep in mind that we always get what we pay for.
Just my thoughts.
Best of luck.