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Some may think that having escrow instructions is more than enough to close a deal. However, these instructions are usually prepared to benefit the escrow company, not the individual who hired them. This means that the language is written so as to not hold the escrow company liable if a problem arises. Also, these instructions will often not be written out to your exact specifications, making you liable for much more than you bargained for. For these reasons and more you will always need a separate real estate purchase contract.