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Updated about 8 years ago on . Most recent reply

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21
Posts
25
Votes
Sean Sullivan
  • Investor
  • South Portland, ME
25
Votes |
21
Posts

$6,000 price discrepancy on Deed vs. HUD - noticed after closing?

Sean Sullivan
  • Investor
  • South Portland, ME
Posted

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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17,434
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30,084
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,084
Votes |
17,434
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Its just a typo on the deed. You wont have any refund coming back.

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