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Updated about 8 years ago on . Most recent reply
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$6,000 price discrepancy on Deed vs. HUD - noticed after closing?
First, yes, I know I should have spotted this - I didn't.
I purchased a house from HUD in November 2016. Purchase price was $27,501. I closed via a local title company - total was about $29,000 after fees/ taxes...etc.
I am now selling the property to another investor, and they have asked me to send over a copy of the deed. While I was looking at the Deed - the notarized/ signed one, I noted they list the purchase/ sale price as $21,501 - a difference of $6,000 vs. what I paid. The HUD-1 Settlement doc says $27,501 as the purchase price.
Here are my specific questions:
Which of these doc's - HUD-1 or Deed is going to be the most legally binding? I have already paid the higher price, so I am not worried about owing more, but obviously would prefer to be refunded $6,000. I also want the correct price to be reflected on the deed to prevent any future tax issues.
To move towards a resolution - should I contact the title company I used to close the property - or should I contact my RE lawyer first?
Most Popular Reply
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Its just a typo on the deed. You wont have any refund coming back.
- Russell Brazil
- [email protected]
- (301) 893-4635
- Podcast Guest on Show #192
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