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Updated almost 8 years ago,

User Stats

87
Posts
24
Votes
Michael Fortier
  • IT Director/Service Manager
  • Lubbock, TX
24
Votes |
87
Posts

Seller credit was too high, not noticed til 2 weeks after closing

Michael Fortier
  • IT Director/Service Manager
  • Lubbock, TX
Posted

Hello 

I closed on a house a little more than two weeks ago and everything was rolling along nicely. I got it all cleaned up and rented out on the first of April. This morning I got a call from the bank telling me that the seller credit was more than 2% of the loan and that it I need to go bring a check for $150 dollars to the title company. So my realtor made a mistake and let it go though without saying anything, the bank let it go though without saying, we closed at the title company more than 2 weeks ago and they didn't say anything. It got caught when they were trying to sell off the loan to another bank. If I would have known this before hand I could have either asked for more repairs or a lower price on the house. Now the deal is done and its my problem? Is there anything I can do or do I just need to chalk it up to experience and pay the title company and move on?

Thanks in advance

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