Title Company Error - Posted by Nick

Posted by Linda Simms on July 26, 2003 at 15:38:24:

To prevent these errors and to save any last minute disputes, I always have the title company fax me the proposed HUD-1 or closing statement the day before or at least in the morning if the close is in the afternoon. This has saved me a considerable amount of argument and some funds when mistakes were made. The title company should have no objection to doing that and if they do take your business to a title company. that will.

Title Company Error - Posted by Nick

Posted by Nick on July 24, 2003 at 15:44:06:

I would like to know how does one clear up a matter where
the title company enters incorrect information on the HUD-1 Form at settlement. I brought this matter to the attention of the title company and even noted and initialed the error. This error has not been corrected and the incorrect amount has been dispersed to me by the title company. Thanks in advance.

Re: Title Company Error - Posted by Linda Simms

Posted by Linda Simms on July 24, 2003 at 17:30:04:

Any time you find an error on the HUD-1 at closing, require the title company to correct then and there before you sign the HUD-1. They also usually have a statement for you to sign at closing where you agree to any corrections that need to be made. Since you did not do that, I would call them and request that they so change the HUD-1 and produce a new copy for you and the other party to sign and correct the disbursement. If they won’t do it, put it in writing in a certified return receipt letter to them and copy to the other party with reply requested in 15 days. If they still won’t do it and you believe the amount of the mistake is worth it, have a lawyer write them a letter.

Re: Title Company Error - Posted by Nick

Posted by Nick on July 24, 2003 at 17:48:42:

The title officer said I had to send back the papers immeediately and did not want to answer any questions.
Yes I signed a statement regarding the HUD-1 Form. I scrtached the the error and initialed and dated. When I signed the the statement I noted the initial and error. Then in the mail I received two HUD-1 Forms. One (with error) signed by the seller and another copy of the HUD-1 Form signed by me (with correction.) There is not a single HUD-1 Form with both buyer and seller signatures on it. Only two separate HUD-Forms, one with buyer signature and one with seller signature. My check I received was incorrect because of the error. Thanks.

Re: Title Company Error - Posted by Linda Simms

Posted by Linda Simms on July 25, 2003 at 06:31:30:

Make them do it over, correctly on both copies.