I took my land abstracts into an Abstract Agency for updating. I was told the cost could be as high as 1000 dollars but more than likely around 700 hundred. I agreed to this price. I was told that it would be three weeks before they could start on the updating. I was OK with that. Two days later my loan officer called me at home and said that I should find other collateral for the loan because he called the abstract agency inquiring on the cost to update my abstracts and was told it will cost me $1,600. I agreed with the loan officer and was wondering why the cost had changed and why I was not contacted to discuss the new cost. She is now charging me a cancellation fee which I feel is wrong. I never agreed to a cost over 1,000.
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Consumer Law, Warranties cancallation fee
- Thread Starter mckay700
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Do you have a written agreement?
Let me ask you this - you did agree for the work to be done for a certain price. If they were able to complete it for $1,000, would it be acceptable?
If there is a cancellation fee, it must be only because they are charging you beyond the firm estimate price and not because you no longer need the service. As you can appreciate, if the latter was the case, they should be able to charge for the effort expended. Did you address this issue with them yet?
I am not sure I understand "If there is a cancellation fee, it must be only because they are charging you beyond the firm estimate price".
She gave me a price range, with $1,000 being the high and $700 likely being the lowest. I agreed to that price range but even at that I took time to think whether $1,000 was more than I should pay. She knew full well that I agreed with the understanding that the cost would not go over $1,000.
As far as any time spent on the abstract, I was told, much to my disappointment, that it would be 3 weeks before she could even began the updating. The $1,600 cost (provided to the loan officer) came two days after I was given the $1,000 as a high.
She gave me a price range, with $1,000 being the high and $700 likely being the lowest. I agreed to that price range but even at that I took time to think whether $1,000 was more than I should pay. She knew full well that I agreed with the understanding that the cost would not go over $1,000.
As far as any time spent on the abstract, I was told, much to my disappointment, that it would be 3 weeks before she could even began the updating. The $1,600 cost (provided to the loan officer) came two days after I was given the $1,000 as a high.
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