On Sun, 18 Dec 2005 08:26:12 -0400, "Juan Jimenez"
wrote:


"Maury Markowitz" wrote in message
roups.com...

9) were the deposits supposedly placed in escrow?

Yes, and it was mostly swallowed up by the creditors after the company
folded.

The key word there is "supposedly". Proper definition of "escrow":

es·crow n.
Money, property, a deed, or a bond put into the custody of a third
party for delivery to a grantee only after the fulfillment of the
conditions specified.

I'm guessing that *your* definition is different, and subject to
change if for example your own money was on the line buying a home.
I'd like to see a BD5 "escrow" agreement which allowed anything other
than return of deposits once it was clear that buyers wouldn't be
getting what they'd ordered.

To the OP: you'd be wise to take anything Juan writes with a grain of
salt.

Wayne