Posted by Mark (SDCA) on December 14, 1999 at 16:25:09:
I am not an expert on this but… the way I understand it is that the Irrevocable Demand allows the escrow company to move the funds from one escrow to another. Othewise, there might not be enough time to do both closings the same day. So the 2nd escrow (where you are the seller) places an Irrevocable Demand on the funds from the 1st escrow (where you are the buyer).
The escrow company should do this all for you…