[WSBAPT] New York style closing

[Rich McEntee]

Hello Listmates 

I am representing a seller of a WA business and was recently presented with a PSA for the business which includes real property. The buyer is out of state (CA) and has CA and IL attorneys. In the offer, the escrow is to be handled by a national title company’s CA office. A “New York style closing” was specified. I am not entirely certain of the specifics of this type of closing and only have a vague understanding from brief internet research. Can anyone clarify or provide more details as well as tell me why I might want this for a WA transaction? Should we push back? I have worked through a few business closings before but these were handled locally with business escrow closing firms.  

Thank you, in advance, for your assistance and advice. 

Rich

Rich McEntee
McEntee Law Office
3800 Bridgeport Way W Ste A411
University Place, WA  98466
253.227.9894
jrmcentee at gmail.com


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