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What if the vendor is lawyer and he insist the purchaser issue 3% earnest deposit under his name instead of agency or lawyer firm. Shall we proceed? Or any way to protect? Anyone experience this kind of cases


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Have face it... but since I know her well so it will not an issues 

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No, you should not issue to the lawyer's own name (Vendor). Some alternatives I can suggest:-

1. Ask the Vendor who is also a lawyer to prepare the SPA asap and deposit 10% to lock Purchaser & Vendor in.

2. Write a letter of intent to purchase the property and the cheque beneficiary should be in the Law Firm's name as stakeholder. Google "Letter of Intent Real Estate" and sample templates are available. In the event the SPA cannot be perfected, all monies should be refunded.

You should also consult your own lawyer or legal friend because you are facing a lawyer. Some of the time, the SPA will be drafted against your favour, which is not in line with normal industry standard.

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Appoint your own lawyer to prepare the S&P. U can ask yr lawyer to pay booking the vendor on your behalf as stakeholder.

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I agree with Edward & PNK. The cheque should be under Law Firm's name. And appoint your own lawyer.

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So in other words... both seller and buyer need to appoint separate Law firms to handle the transaction?

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@evatan88 thanks for sharing