Title Company, Lender, Sellers Missed Numerical Error

[joe mcdonough]

Jurisdiction

New Hampshire

We recently closed on a home in NH. When we made our offer on the house to make the offer more attractive we offered to cover $2000 of the sellers closing costs. On the final closing disclosure no one involved in the transaction realized that we the buyers were credited $2000 dollars from the seller ($4000 dollar swing). A week after we closed and had already moved into the house the sellers noticed the error and are trying to collect the $4000. We have had a tough time getting straight answers from title company and lender if we are legally obligated to pay this figure. I have had several real estate agents tell me that likely the lender or title company is obligated to pay this since it was their error and is a numerical clerical error. However, the title is saying it falls in a category that we as the buyers need to pay and have sent an updated closing disclosure. I am just looking for some clarity if we are in any way legally obligated to pay this dollar amount. I know that we made the original offer and should probably just honor it however the home is very old and needs a lot of work and $4000 would go a long way. Any advice is very appreciated, thank you!

 

[Zigner]

You are obligated to pay what your contract says you are obligated to pay.

 

[army judge]

You can't buy meat in a vegan restaurant.
You don't seek legal advice from real estate salespeople.

If one encounters a legal problem, she/he is best to seek REAL legal advice from a licensed ATTORNEY.

Anonymous internet strangers know less about your dilemma than you do.

Do you really think asking unknown internet denizens IMPORTANT legal questions is wise?



Legal Disclaimer: The content appearing on our website is for general information purposes only.

When you submit a question or make a comment on our site or in our law forum, you clearly imply that you are interested in receiving answers, opinions and responses from other people.

The people providing legal help and who respond are volunteers who may not be lawyers, legal professionals or have any legal training or experience.

The law is also subject to change from time to time and legal statutes and regulations vary between states.

It is possible that the law may not apply to you and may have changed from the time a post was made.

All information available on our site is available on an "AS-IS" basis.

It is not a substitute for professional legal assistance.

Before making any decision or accepting any legal advice, you should have a proper legal consultation with a licensed attorney with whom you have an attorney-client privilege.

For purposes of New York and New Jersey State ethics rules, please take notice that this website and its case reviews may constitute attorney advertising.

 

[flyingron]

This is not Monopoly. A bank error in your favor does not allow you to collect $4000.

 

[adjusterjack]

On the final closing disclosure no one involved in the transaction realized that we the buyers were credited $2000 dollars from the seller ($4000 dollar swing).

Not even you. The one who was supposed to have read it and made sure it was doing everything it was supposed to do.

You owe it. Pay it.

But you are free to pay a lawyer to analyze the agreement.

 

[Disabled Vet]

This is the reason a handshake isn't good these days. Folks are not trustworthy and their word is worthless. Such a disgrace. Go back and read YOUR comment. You even state in YOUR comment that YOU agreed to pay 2,000 of the sellers costs. Since it didn't happen you want to back out of what YOU stated YOU would do. Interesting.. You don't need a lawyer to tell you what is correct. YOU already know.... so do it.

 

[hrforme]

Have to agree with Vet.....but also sold and bought a home in the last year and both title companies in both states had us sign something regarding this being able to be corrected and us acknowledging we might owe for something like this (small numerical errors). You know you owe this but yet are trying to profit off someone else's "small numerical error".