seller's info needed for agreement of sale

my husband and i are selling our home in PA. we told our neighbors who said they had friends interested in buying it privately. they looked at our house 2x and offered us exactly what we wanted (verbally). they are now getting someone (a lawyer) to draw up an agreement of sale, and say they need some addtl. info from us incl. ss#, mortgage co. name and acct#, and the address & phone of the mortgage co. my husband spoke to their lawyer who says he needs our ss# to set up an escrow account and the other info as a "point of reference" whatever that means. i don't think any of that info is necessary for them to draw up the agreement and don't want to give it out. i think they're just fishing for our financial info to (perhaps) change down the bid. am i correct, or do they need that info?

[Edited by SandyShelton on 02-16-2001 at 11:45 AM]

The attorney may also be closing the loan on behalf of the buyer in which case he needs the information requested. The buyer can choose who closes his/her side of the transaction. It is standard practice to include all parties SS#'s on the purchase contract. It is also pertinent to know who the mortgage company is so the attorney can be sure who will be getting paid at closing and to know whether there are clouds in the title. The escrow account is probably to hold the earnest money. The attorney is not going to let you hold onto it because if the contract is not fulfilled, they may have a right to get the earnest money back from you if for example the home inspection does not pass or you are unable to satisfy any of the contract terms.