Posted on: 31st Mar, 2010 07:48 pm
Hello;
My husband and I purchased a house recently, we gave a check for $5000 to the lawyer to be placed into Escrow Acct... this was in October 2009. We closed January 2010 and today (April 1, 2010) the check has not been cashed. What should we do?
My husband and I purchased a house recently, we gave a check for $5000 to the lawyer to be placed into Escrow Acct... this was in October 2009. We closed January 2010 and today (April 1, 2010) the check has not been cashed. What should we do?
It is quite surprising that the check has not been cashed in yet. You should have a word with your attorney and your lender in this regard and check out what you need to do.
i doubt the lender will be any help whatsoever...they'll just direct you back to your attorney. how is it that you were able to effect the purchase if the sellers never received their due amount?
Most likely the deposit was held by someone out of the proceeds. In other words, it was assumed that lawyer cashed the check and retained that against their fees (usually it's a realtor that holds the escrow check). So they received $5,000 less during closing and the credit was given to the buyer on the settlement statement.
I would check to see if the money wasn't settled in another manner, like perhaps the seller didn't receive a credit for the escrow money and there was no reduction on the HUD to the lawyer.
Consult your title company first.
I would check to see if the money wasn't settled in another manner, like perhaps the seller didn't receive a credit for the escrow money and there was no reduction on the HUD to the lawyer.
Consult your title company first.
I mean i honestly dont know what happened or how it happened and to the date they do not realize this. I did connect my real estate lawyer, he was aware of this going into the closing, but after the closing, he no longer wanted anything to do with the issue... what do you recommend?
anyone i should call??
anyone i should call??
As Howard has suggested, it would be better if you could contact your title company and also get in touch with a lawyer in order to sort out the matter.
As i noted in my message (I'm glad I happened on this thread), I'd think the Attorney General's office in your state may be helpful. By the same token, you may wish to discuss this with the real estate commission in your state also. But before you do the latter, contact your realtor (and the other realtor too, if you can) and query there. Don't hesitate to speak with your realtor's broker, either.