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Old 11-13-2011, 01:59 PM
 
Location: Salem, OR
15,539 posts, read 40,313,582 times
Reputation: 17422

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Quote:
Originally Posted by Nocontengencies View Post
Are you sure? She did say she signed papers 3 times. How can there be a check cut that doesn't match any of the numbers anywhere? I still say there are missing parts of this story.

The story as I'm reading it is this...

They signed a final HUD after several mistakes were caught and corrected. The final HUD showed an overage, which is what the OP was expecting. The check that was cut was almost $1,000 higher than was supposed to be cut per the HUD.

That is the entire point of what the OP is saying is that the escrow is so badly messed up that they actually cut a check that doesn't match the HUD. No other pieces are needed. The check MUST match the HUD statement which you sign at closing. It doesn't matter how many they sign before. The FINAL HUD is what matters.

It's attorney and complaint time.
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Old 11-13-2011, 08:19 PM
 
Location: SoCal
681 posts, read 2,795,781 times
Reputation: 496
Quote:
Originally Posted by Nocontengencies View Post
I asked a question before as a way to try to figure out if your agent had read and approved the HUD before they had you sign it. I didn't want to just assume this, but it seems to me this could be the case. I know there are agents out there that think all of that is the title companies job and a HUD can be hard to understand especially if you aren't an experienced agent. So, they don't bother. Mistakes on a HUD happen all the time, but they are very fixable. It doesn't mean the title company is bad. They are a neutral party that may not have the information given to them correctly.

If an agent doesn't consider this an important part of their job you may walk away from the closing table paying more than you should.
The original post was long enough as it was, so I did leave out a few details. But since you ask:

No my agent did not read or approve the HUD before signing, but this was not my agents fault ... the fault goes back to the escrow company. My agent had asked multiple times for the HUD for approval prior to signing, but escrow company dragged their feet to the point where the closing date was quickly approaching they needed me to sign ASAP otherwise closing would have been delayed. Each time I signed the HUDs, I would sign them, then send a copy to my realtor the same day because the escrow company wouldn't. It was my realtor and myself that went over the HUDs line by line each time and saw the inconsistancies. So in the end, closing dates were missed anyways due to the errors.

As for the escrow company not having all the details, my agent and the seller's agent all gave in writing all the corrections required to the HUD the first time around. The escrow for some reason chose to ignore some of the corrections and for others went on to insert/delete/change other fees without any reason (once they totally deleted the agent's commission fees!).

On the question about my agent knowing that if I deposit a cancelled check I would be assessed major fees. Of course, everyone knows this. I believe in my original post I specifically said I asked the bank which issued the check if it is still valid (this is 3 weeks after escrow company said they cancelled it). Bank said it still is valid and no stop payments or cancellations are recorded for that check.

Quote:
Originally Posted by bbronston View Post
As usual, I think Silverfall gave you good advice.
I appreciate Silverfall's advice and definately agree with the path to follow if I was in the situation where I am on the loosing end of this deal.

However, the transaction is complete, the property is in my name with the county and I have a refund check that is more than what I expected.

I'm not going to file a complaint for getting more money. The escrow company can come back and ask for it back, and that is when we can ask for corrections and clarifications. As far as I'm concerned, I'm never going to do another transaction that involves this escrow company ever again.

Let escrow find their own mistakes (even after we pointed it out to them, they still haven't done anything) and let them take the steps to right their wrongs. My agent, the seller's agent and myself have invested too much time with the non-compliant company to start a legal battle from our sides after the transaction is done (for what? For us to end up oweing them in the end?). Let them initiate the legal battle as we can prove on our side we did everything we could in our power to correct the HUDs and also pointed out their error in being a larger refund check.
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Old 11-14-2011, 08:00 AM
 
3,398 posts, read 5,095,217 times
Reputation: 2422
Thank you for posting. Iv' never had a title company mess something up as bad as that.
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Old 11-14-2011, 09:03 AM
 
Location: Boise, ID
8,046 posts, read 28,420,707 times
Reputation: 9470
In addition to Silverfall's advice, I would also take a few minutes and write down (or print out if it was via email) each conversation you had with them, including dates, and what the timeline was for closing and paperwork, and mistakes.

Make sure you don't take too long with the attorney though, many checks from title companies say "Invalid after 90 days".
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Old 11-14-2011, 10:56 AM
 
Location: Salem, OR
15,539 posts, read 40,313,582 times
Reputation: 17422
I understand your reluctance to seek attorney counsel as you were on the gaining end of the deal, but I still urge you to file a complaint with the DRE. People complain on this forum about the bad in the real estate industry and you clearly have an opportunity to make sure the DRE is aware of horrendous accounting practices. You have the opportunity to prevent another consumer from being harmed, even though you weren't. The state real estate agencies take complaints from consumers much more seriously than they do from real estate agents. Please file a complaint.
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Old 11-14-2011, 11:00 AM
 
4,399 posts, read 10,650,489 times
Reputation: 2383
Quote:
Originally Posted by mricu View Post
The original post was long enough as it was, so I did leave out a few details. But since you ask:

No my agent did not read or approve the HUD before signing, but this was not my agents fault ... the fault goes back to the escrow company. My agent had asked multiple times for the HUD for approval prior to signing, but escrow company dragged their feet to the point where the closing date was quickly approaching they needed me to sign ASAP otherwise closing would have been delayed. Each time I signed the HUDs, I would sign them, then send a copy to my realtor the same day because the escrow company wouldn't. It was my realtor and myself that went over the HUDs line by line each time and saw the inconsistancies. So in the end, closing dates were missed anyways due to the errors.

As for the escrow company not having all the details, my agent and the seller's agent all gave in writing all the corrections required to the HUD the first time around. The escrow for some reason chose to ignore some of the corrections and for others went on to insert/delete/change other fees without any reason (once they totally deleted the agent's commission fees!).

On the question about my agent knowing that if I deposit a cancelled check I would be assessed major fees. Of course, everyone knows this. I believe in my original post I specifically said I asked the bank which issued the check if it is still valid (this is 3 weeks after escrow company said they cancelled it). Bank said it still is valid and no stop payments or cancellations are recorded for that check.



I appreciate Silverfall's advice and definately agree with the path to follow if I was in the situation where I am on the loosing end of this deal.

However, the transaction is complete, the property is in my name with the county and I have a refund check that is more than what I expected.

I'm not going to file a complaint for getting more money. The escrow company can come back and ask for it back, and that is when we can ask for corrections and clarifications. As far as I'm concerned, I'm never going to do another transaction that involves this escrow company ever again.

Let escrow find their own mistakes (even after we pointed it out to them, they still haven't done anything) and let them take the steps to right their wrongs. My agent, the seller's agent and myself have invested too much time with the non-compliant company to start a legal battle from our sides after the transaction is done (for what? For us to end up oweing them in the end?). Let them initiate the legal battle as we can prove on our side we did everything we could in our power to correct the HUDs and also pointed out their error in being a larger refund check.
Why don't you just cancel the check and escrown company's bank. Then no fee problems.
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Old 11-16-2011, 06:44 PM
 
Location: Coral Springs, Fl
1,086 posts, read 3,354,845 times
Reputation: 613
Cash the check.
Send a certified letter explaining your situation and offer to pay back the difference of what's owed, if any.

When books are closed at the end of the quarter there will be a discrepancy, and they will most likely find the discrepancy.

I would not wait to cash the check, you've done your due diligence.
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Old 11-22-2011, 04:38 AM
 
Location: Florida
23,165 posts, read 26,122,269 times
Reputation: 27898
I agree .
Cash the check and hold the overage for when/if you are asked to pay it back.
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