Legal Question in Real Estate Law in California

Escrow Underpayment

I recently sold my home in Northern California where the escrow papers at closing said I would receive an approximate payout of $3000 after closing. Escrow closed and after a few weeks I did not receive the payment. I receieved a letter from the title company saying I owed them $19,000 plus additional administrative fees incurred by them. How can this be, escrow closed. They have shown me documents this may be true but how can I owe this after the fact. Am I legally on the hook for this?


Asked on 1/30/08, 9:52 pm

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Escrow Underpayment

$19,000 seems a bit extreme. I suggest you take this up with escrow and tell them you expected (and agreed) that it would be paid through escrow.

If your agent/broker was involved in this transaction, there's another avenue to address this, since there's probably some kind of relationship with the escrow company.

Read more
Answered on 1/30/08, 9:57 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in California