Legal Question in Real Estate Law in Maryland
New Condition Precedents Unilaterally Imposed by Purchasers at Settlement Table
Does a Seller of Real Property have to agree to a settlement table proposal that she must allow the settlement attorney's office to successfully record the fully executed and delivered deed first before she recieves her disbursement check for the settlement proceeds? The purchasers unilaterally imposed these conditions at the settlement table, on the day of settlement, without a recording contingency being agreed to on the contract or at any other time. Additionally, it was later discovered that the purchasers did not even deposit their settlement proceeds into the settlement attorney's escrow account. They merely handed the settlement attorney personal checks that were never negotiated, even though the seller specifically requested that the funds be certified.
1 Answer from Attorneys
Re: New Condition Precedents Unilaterally Imposed by Purchasers at Settlement Table
The seller is not required to agree to anything. The terms of your contract of sale should dictate when disbursement is to take place. Most title attorneys do disburse at the settlement table, because they can do a title "rundown" just before settlement to see if there have been any recent recordings that might adversely affect the title. However, when the purchasers failed to provide the title company with certified funds, I can understand why they would be reluctant to disburse until the buyers' checks cleared.
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