 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
No settlement payment received. Recourse available?
I sold my condo in and received a full price cash offer (in Maryland). There was no mortgage/lien. On the Wednesday I emailed my wire transfer information to the Title company and received confirmation. I went to settlement that Friday at 1:30pm. On the day of settlement (my agent was not there at that time by the way), the last piece of paper was a request for the same wire transfer information. I explained to the settlement agent that I provided the same information previously and didn't understand why I was being asked to provide it again. He left the room to "check on it" and was gone for approximately 20 minutes. When he returned he brought my confirmation email but asked that I complete the wire transfer form anyway. He assured me that the funds would be in my account by 5:00pm that evening. My realtor finally arrived when this conversation was taking place and stated to the settlement agent that the wire should have been completed by 10:00am that morning. Again, the agent assured him there was no problem with the transfer and that the form was just a formality. Needless to say, the wire transfer didn't take place on Friday at 5:00pm, nor was it there on Saturday. I expect to receive my money eventually. However, is there any legal recourse or are there any legal ramifications under real estate law when a Title company fails to complete payment for a sale on the day of settlement? Are there any provisions for making this right, as in a penalty? I should also mention that the buyer's funds were available because they were wired to the settlement company beforehand since it was being paid out of an IRA. The Title company confirmed this with me beforehand.
|
||||
|
||||
 Originally Posted by zmacllc;
Have you received your payment and is this just a matter of no payment on the day you expected it? Did you suffer financial loss by the delay in payment? If so, you may be able to recoup this from the title company. |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
I am divorced for 2 years and my ex has not paid the settlement yet wich was agreed on. The lawyer has sent the sherrif of the court to attach twice already and the girlfreind says everything belongs to her and produces receipts so now that's a dead end what is the next step for me getting my...
Delta dental insurance said the claim was processed, and a check was sent to my dentist in August. However, my dentist's billing clerk said she did not receive any payment from Delta, she sent me a bill of the full amount plus finance charges in November. What should I do to straighten out this...
I received form 1099-Misc stating that I have received $2,000 in wages or compensation in 2010. I am not self-employed; have not provided wages individually and am confused about the receipt of this form. How do I find out who reported that they paid me $2,000 for services and how do I correct...
I am the plaintiff in a civil case with a small municipality, (defendant). The judge is about to rule in my favor, (plaintiff). The defendant (small municipality) is offering a settlement for half of the amount in 6 quarterly payments. 1) I am concerned I will not get paid or the payments will...
Starting around October of last year I ran into some major money problems and fell behind on everything. At first I did the wrong thing and hid from the creditors because I was broke and didn't know what to do. At the beginning of this year I got back on my feet a little and started contacting my...
View more questions Search
|
