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Updated about 13 years ago,

User Stats

72
Posts
8
Votes
Ken Sanders
  • Real Estate Investor
  • Malvern, PA
8
Votes |
72
Posts

Undercharged on HUD - 3 Weeks Later I'm Responsible???

Ken Sanders
  • Real Estate Investor
  • Malvern, PA
Posted

I closed on a house about a month ago. Yesterday I received a call from my Title Company saying I need to write them a check for $10k. I went back and took a look at the HUD sheet and it appears that they wrote my deposit down as $35k instead of $25k. In the meantime, while rehabbing the house, I've been budgeting my money accordingly. If I were to pony up the $10k, that would throw a wrench in my rehab and will end up costing me even more money since I won't be able to hire out for other repairs.

No one at closing caught the error, including the realtor who also received an extra $600 broker's fee for "reviewing the documents" with me.

Am I obligated to pay for this? Isn't this why the title company has E&O insurance?

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