Re: Take matters in your own hands - Posted by JohnBoy
Posted by JohnBoy on October 30, 1998 at 15:55:49:
I thought I was on top of this. We scheduled the closing to be at the sellers attorney’s office. The sellers attorney set the time for 11am this morning. My loan broker and I had to stay on top of the bank to get this funded by today. I asked the attorney if anyone from the title company had to be at the closing? They said NO! My attorney and the sellers attorney could handle the closing without the title company. The bank funding my loan sends their package to the attorney’s office where the attorney’s handle closings without using a title company.
The sellers attorney had talked with the bank yesterday about this closing. The loan processor called the title company here and asked about the closing. They knew nothing about any closing we had. They did however find my file where the sellers attorney ordered the title commitment through them. But the title company was never contacted by the sellers attorney to set up a closing date and time. I did not call the title company because I was my understanding that the sellers attorney was set up to handle their own title commitments thereby not needing a title company involved.
If the sellers attorney had ordered the title commitment from a title company, then why would he assume we would be closing at HIS office today at 11am, the time HE set?? When the loan processor talked to the title company this morning, they told her that they DO NOT go to attorney’s offices to do closings. ALL of their closings are done at the title company! So WHY would this IDIOT schedule a closing at HIS office and go over everthing with the bank and have them send the package to HIS office if he wasn’t set up to do this?? Since the sellers attorney ordered title commitment from a title company and knowing that someone from that office would have to be involved with the closing and that they don’t come to you, but rather you MUST go to their office to close, then what would the point of scheduling a closing at his office be for??
When I was told that the attorney could handle the closing without a title company involved (meaning their law office is set up to insure title), why would I need to call a title company to insure everything was set to go with them? There wasn’t supposed to be an outside title company involved with this.
He knew for over 2 weeks that we needed to close today. The bank was waiting on him to provide the title commitment. Everything else was done and ready to go. The bank got the title commitment this week and they stayed last night to finish the package so we could close this morning. The package was sent over night at 5pm last night to arrive by 10:30am this morning. The sellers attorney calls my attorney this morning before the package arrived and said we couldn’t close today BECAUSE THE BANK DIDN’T DELIVER THE PACKAGE! He was trying to pass this off as the banks fault that we couldn’t close today.
When I found out about this this morning I called the sellers attorney and told him the package would be there by 10:30am. We can close today! THEN he say’s we still can’t close because HE is not set up to handle this without someone from the title company being there. Hmmmm?? WHAT TITLE COMPANY??? YOUR suppose to handle this. You just talked to the bank last night about this! IF you needed the title company, then WHY didn’t you set this up with them 2 weeks ago?? Why would you schedule the closing at YOUR office when the title company YOU used to issue title commitment from say they DO NOT go to attorney’s offices to close?? THEN he says he represents the seller! Not the buyer! YEAH? AND?? So why didn’t you contact the title company to set up the closing with them if you couldn’t handle it without them???
I guess he thought we were all coming by his office this morning just to meet each other and see what we all look like or something. LOL.
So my question here is, should I pay for the additional closing costs of the pre-paid interest this is going to cost if we close next week now?? OR should this attorney be held accountable for HIS negligence??
Not only has the sellers attorney screwed up with me on this but he’s screwing the sellers on this too. The sellers MUST close on this deal by the 10th or they loose the house they’re trying to buy, which they are renting until they close on this one. If they can’t close by the 10th on their new house they have to get out. The seller of that house will not extend them anymore time. I could pass this additional cost onto the sellers if they still want to get this closed by the 10th but I’m not sure if they could pay the extra cost involved. They won’t be getting a dime from the closing of this house. They owe MORE than what I’m paying for it. They have a second mortgage on it that the lender has agreed to discount the difference they owe on the payoff. So they are at a negative on this.
I could drag this thing for another month according to the terms of my contract but I was trying to be Mr. Nice Guy and get this closed by the end of the month so the sellers could buy the house they’re now living in. I did everything I could on my end to get this deal closed by today. Since its their attorney who screwed up here then he should be held accountable for his negligence, not me.
So how would you handle this situation at this point if it were you?