Quote:
Originally Posted by retiredguy123
I have to take issue with the statement that the OP wasn't cheated by anyone. The seller owes him $590 and refuses to pay him.
|
I believe "cheated" is too strong a word since it usually implies intent. I also believe the seller doesn't "owe" him anything. The seller could give him the $590 out of the kindness of his heart, but both agreed to the contract at the time.
Disclaimer: IANAL
The sale of the home is final on closing day, there are no "go backs" unless one of the parties can prove fraud. In this case both the buyer and seller should have been given the information to review prior to closing. The seller should have confirmed he was not paying too much, and he wasn't. The buyer should have reviewed the material to understand what he was paying and whether it seemed correct. Unfortunately, it would have taken some research to determine what the tax bill would be and what the proper distribution was.
The agent is only responsible for putting the parties together and negotiating the sale, they have very little to do with closing and certainly nothing to do with establishing closing costs.
It seems to me the title company should accept responsibility for the mistake. They were responsible for determining the closing costs - that's what they were paid to do. They made the error and they should work to correct it. At the very least, since they didn't properly perform the work they were paid to do they should refund the fee that they collected.
Due to the small amount in question and the cost of filing in small claims court it might just be best to let it go. Otherwise, you will certainly pay more in fees and frustration than you would be able to collect. Work with the title company and try to have them accept responsibility and maybe that will work. If not, feel happy with the price you paid, even with the mistake, especially since the previous owner paid off the bond which is worth far more than $590.