Hanger Law

Hanger Law Hanger Law is a general practice firm with emphasis on real estate transactions, estate planning and

Our third and final day in our escrow series drops now, so let’s dive in!An escrow agreement defines the duration of wor...
06/01/2026

Our third and final day in our escrow series drops now, so let’s dive in!

An escrow agreement defines the duration of work.
Within the escrow agreement, we want to make sure that there is a duration of time in which the work has to be completed. This way, it prevents the seller from dragging his/her feet. In the event the work is not complete by the deadline, we like to include terms that state the escrowed funds shall be given to the buyer and the seller will waive any right to same.

We can also include a clause within the agreement that states that upon mutual agreement of the parties, in writing, there can be an extension of time for the work to be completed. Each transaction has its own unique set of circumstances, so the precise details of what should be included in an escrow agreement should be discussed with an attorney for your particular file.

Thank you for reading, and if you missed the first two days, be sure to go back and visit those posts as well! 🔎
If you’d like to learn about some questions you should ask before purchasing a short sale, head over to our Instagram where we have just finished up a series on that topic! 💫

Welcome back to our Escrow series. Today is day 2 of 3 and we are discussing the steps prior to an escrow agreement.Befo...
05/29/2026

Welcome back to our Escrow series. Today is day 2 of 3 and we are discussing the steps prior to an escrow agreement.

Before getting to the point where an escrow agreement is needed, the goal is to try and get the work done before closing. If that is not possible, then we always encourage our clients to try and get an invoice for what the cost of work will be.

If we can get an invoice from the contractor that is doing the work, we can include that cost in the closing disclosure and it can be a debit from the seller. We will then hold on to that check until we receive word the work has been completed and then disburse the check to the contractor OR we can deliver the check to the buyer and then the buyer can disburse the check to the contractor once work is completed.

This way, we know a contractor is lined up to do the work, we know the amount of money it will cost for the work, and we will have the funds ready for the cost of work, made payable to the contractor. If the above is not possible, then we will turn to drafting an escrow agreement.

This week on Facebook, we are doing a series all about Escrow. So let’s jump right in!What is an Escrow Agreement?Escrow...
05/27/2026

This week on Facebook, we are doing a series all about Escrow. So let’s jump right in!

What is an Escrow Agreement?

Escrow Agreements are commonly seen in real estate transactions, although they should be used as a last resort. Escrow agreements are generally utilized when there were outstanding PICRA items that could not be repaired/fixed/replaced prior to closing or when there were walk-through items that could not be repaired/fixed/replaced before closing.

Essentially, an escrow agreement is an agreement signed by both parties, which sets forth a certain amount of funds that will be held in escrow, until outstanding work/repairs are completed. The person/ entity who will be holding the funds is considered the “Escrow Agent”. The money that is set aside is usually money withheld from the seller’s proceeds in the real estate transaction and is considered the “Escrowed Funds”.

Living and working in a military town and community, we know that freedom does not come without a heavy price.Today and ...
05/25/2026

Living and working in a military town and community, we know that freedom does not come without a heavy price.
Today and every day, we remember and honor all of the brave men and women who have made the ultimate sacrifice for our freedom and their families.

Thank you for your courage and love for our beautiful country. 💙
Gone, but never forgotten.❤️

We are so delighted to hear about Sophie’s experience with us. We are so honored that she trusted us with one of life’s ...
05/22/2026

We are so delighted to hear about Sophie’s experience with us. We are so honored that she trusted us with one of life’s biggest milestones.

Hanger Law advises and counsels entrepreneurs and small business owners to help start their businesses, ensure corporate...
05/20/2026

Hanger Law advises and counsels entrepreneurs and small business owners to help start their businesses, ensure corporate compliance, and handle any legal matters that arise in the complex world of business transactions.

Hanger Law's attorneys have spent countless hours defending clients in the courtroom. Our experienced attorneys can prov...
05/18/2026

Hanger Law's attorneys have spent countless hours defending clients in the courtroom. Our experienced attorneys can provide clarity of your legal rights, negotiate on your behalf, and zealously represent you in and outside of court.

And the award for best Pre-COE goes to… this crew! ⭐🎥Photo dump round 2 because there were just too many good photos not...
05/14/2026

And the award for best Pre-COE goes to… this crew! ⭐🎥

Photo dump round 2 because there were just too many good photos not to share them all. Rooftop views, red carpet vibes, and a team that always knows how to celebrate in style.

Definitely a night worthy of a standing ovation! 👏✨

Lights, camera, celebration! ✨🎬This year’s Pre-COE Party brought all the glamour of “A Night at the Oscars” to the Hange...
05/12/2026

Lights, camera, celebration! ✨🎬

This year’s Pre-COE Party brought all the glamour of “A Night at the Oscars” to the Hanger Law rooftop. From red carpet moments to unforgettable memories with our incredible team, the night was the perfect kickoff to the Circle of Excellence celebrations.

Safe to say… everyone understood the assignment. 🏆🍾

Happy Mother’s Day to all of the phenomenal moms out there who do it all. From the quiet sacrifices to the loudest cheer...
05/10/2026

Happy Mother’s Day to all of the phenomenal moms out there who do it all. From the quiet sacrifices to the loudest cheers, moms are the heart behind it all. Thank you for your strength, your love, and the countless ways you show up, day in and day out.

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