closing delayed now what? - Posted by luke-NC
Posted by luke-NC on May 24, 2005 at 15:10:22:
I have a deal where we were supposed to close and know we’ve got a problem.
We had initially agreed that we, the sellers, would pay $3,000 towards closing costs for the buyer.
Now, we get to closing, and the buyer’s agent says we have to bring a cashier’s check, payable to the buyer for $3,000. Which is not disclosed on the HUD. Apparently, they didnt tell his lender that I was paying the $3,000 in closing costs, and we have to do it this way, otherwise the buyer will have to go through the loan application process again. I have many times seen where the closing costs are just figured over again on the HUD, and the lender should have no problem.
I don’t get this, but if I’m not mistaken this is fraudulent is it not?