We bought new from a builder, closed 9/10 and 12/19 he brings up that our deposit was credited twice. This was not discovered at closing. I don't mind paying what I owe, only not being able to finance it or take out a personal loan to pay it. Help!
2007-12-26 03:09:36 · 8 answers · asked by Greg J 1 in Business & Finance ➔ Renting & Real Estate
This is a clerical error. You always owed the 8500, it is not an "additional" amount. You may be able to have them give you 2-3 months to make the payment, it should not be urgent. I am surprised you did not notice this, most people look over their bills pretty closely.
2007-12-26 03:29:13 · answer #1 · answered by Landlord 7 · 4⤊ 0⤋
This question has brought a lot of opinions and a difference of answers.
The most important thing for you to do is LOOK OVER THE HUD statement YOURSELF. Do not take the builder's say so for what is correct. He could be mistaken, himself.
If a real estate agent assisted you with your purchase, ask him/her to look over the statement; contact the title company (closing company) and ask your closer to go over the document (and BE THERE to ASK other questions).
If there IS a Mistake in the closing documents and IT HAS been pointed out by impartial people, then CONTACT A REAL ESTATE attorney. This attorney will represent YOUR best interest and give you ACCURATE LEGAL advice on how to proceed.
The builder received THIS SAME DOCUMENT at closing which HE HAD TO SIGN AS ACCURATE. There is a possibility that by signing the statement, he waived his right to ask for further payment. ONLY AN ATTORNEY can say for sure if this is true.
Your realtor and the title company are NOT IMPARTIAL when it comes to 'fessing' up on who's liable, they can only explain if there has been a mistake and show you where the mistake is.
REMEMBER, consult an ATTORNEY for further LEGAL remedies and consultation.
2007-12-26 12:46:50 · answer #2 · answered by mysticgraystar 3 · 1⤊ 0⤋
good question. Since the HUD wasn't prepared by either the builder or you, the settlement company should be at least partly responsible.
I know that the settlement company should review these documents BEFORE they are signed.
I have done over 2000 settlements and sometimes things like this happen, but they have always been discovered at closing.
I would talk with a lawyer.
2007-12-26 11:28:31 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Ask your realtor about errors and ommissions coverage. It's a long shot, but you might be covered there.
Why wasn't the error noticed when you took out your loan?
I have a feeling you'll have to pay it back. Talk to your bank about adding on to the loan or something. Or work out a payment plan with the builder.
2007-12-26 11:19:30 · answer #4 · answered by monicanena 5 · 0⤊ 0⤋
You are responsible for clerical errors of the sort you describe, at least in terms of who pays. Of course, it would be helpful if those involved in the clerical error would assist you in paying down the debt over a period of time, but they actually do not have to do so.
Somewhere, in all the fine print in the documents you signed, is an agreement on your part that you will accept payment responsibility for such errors.
2007-12-26 11:15:04 · answer #5 · answered by acermill 7 · 0⤊ 0⤋
You might want to speak to your Realtor about this. The title company who closed the deal may end up being libel for this, since they were tasked with doing the closing and should have caught that then.
Best of luck to you.
2007-12-26 11:14:26 · answer #6 · answered by trblmkr30 4 · 1⤊ 1⤋
The escrow company needs to correct any problems.
2007-12-26 12:17:16 · answer #7 · answered by Tim 7 · 0⤊ 0⤋
His attorney is responsible for his failure to notice this at the closing.
Try to work it out with him.
2007-12-26 11:14:51 · answer #8 · answered by Anonymous · 0⤊ 0⤋