Your law firm acts as escrow agent for Reed Realty Company and often conducts closings for its clients.
This morning Amy Quinn, a real estate agent with Reed Realty, comes to your office and delivers to you an executed contract for sale and purchase and a deposit check from the buyers for a property listed
with Reed Realty. Amy has been acting as a transaction broker in this transaction. As she hands you the check and the contract, Amy states, “I hope this goes to closing. The buyers have their inspectors
scheduled for next week for the home inspection and the routine inspection probably won’t pick up the potential mold problem. But if the inspector tells them to conduct an additional mold inspection, “we can kiss the deal goodbye”. She then leaves the office. What should you do?
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