HOW DO YOU USE AN IRREVOCABLE DEMAND IN A SIMULTANEOUS CLOSE? - Posted by Suzanne

Real Estate Investing
1

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…

Mark

2

HOW DO YOU USE AN IRREVOCABLE DEMAND IN A SIMULTANEOUS CLOSE? - Posted by Suzanne

Posted by Suzanne on December 13, 1999 at 21:35:14:

In a discussion at a real estate meeting recently, it was suggested that an “irrevocable demand” be used in a simultaneous close. How does this work? Is this something that would be used in a sandwich lease option when the tenant/buyer exercises his option?