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Updated almost 9 years ago on . Most recent reply

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Jeremy Shupp
  • Hagerstown, MD
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Error at Settlement

Jeremy Shupp
  • Hagerstown, MD
Posted

I received a spreadsheet from my realtor that showed what we would be getting back at settlement for specific selling prices. I did not receive any other documents showing what I would receive after closing. At the closing table we were asked to sign a form that was $8700 less than what we expected. Turns out that on our realtors spreadsheet, the 3% sellers credit was never subtracted from the bottom line resulting in this error. We felt our backs were against the wall and we finally signed after our realtor took $2000 off their commission. However there is still a matter of $6700 that we thought we were to receive at settlement. Is there anything that can be done at this point to make up that additional money? The agent and her broker say that nothing else can be done but I truly feel that a mistake was made costing us a lot of money. Any help would be greatly appreciated.

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Your agent was giving an "expected net sheet", an estimation, not a guarantee.  In all honesty you should be doing the math yourself, and realize the $8700 credit wasn't applied.  You received the exact net you contracted for, plus $2k from the agent.

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