Q: who pay for agent mistakes?
i closed on a property in October 2020? one of the contract clause is that the seller will pay the DOB violation. The title company was supposed to pay for the DOB violation from the proceed as agreed. However, i discover the fund was returned to the seller as a "mistake". how i am supposed to recuperate fund to pay the dob violation.
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- New York
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A:
Greetings: You should advise the attorney who represented you at closing as to what transpired; have he/she correspond with the Title Company and have them review the "ESCROW AGREEMENT" you signed at closing with respect to this violation.
Best of luck.
A: If you had an escrow agreement, then that agreement will govern. If it is a standard form, then the title company will be responsible and you need to make a claim, like any insurance. Look at your title policy.
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