Q: Who pays when the bank forgets to deduct utilities from the sale of a house?
We closed on the sale of our house August 3, 2020. I called the utility company to find out what the final utility payment would be and was told the payment amount would be given to the realtor to be deducted from the proceeds of the house. The bank only deducted $100.00, not the total amount of $474.50. Fast forward to September 14, 2020 and the bank now says we owe $374.50. Do we have to pay?
A: Did you receive an extra $374.50 in sale proceeds because the bank only deducted $100.00, not the total amount of $474.50, from the sale proceeds? If so, then you have to pay the $374.50. That puts all parties where they should have been. Plus, your closing documents probably contain language requiring you to cooperate to help correct errors like this.
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