Credit for Repairs After Close of Escrow

You said the financial accounting included the $500 credit but due to the missing form the escrow company could not apply the credit. The error for not providing the form may very well be one of the agents fault but the escrow company should not have settled the account with an outstanding debit/credit they could not rectify so they should have stated to the agents that there is this outstanding credit/debit and the account cannot be closed out until either the $500 is removed from the deal or the proper paperwork is provided.

that does make it the escrow company's fault.

- - - Updated - - -

So, actually the accounting the escrow company has (which you may have a copy of) should show an outstanding matter of $500. If so, then I would absolutely contact the escrow company and ask them take your $500 to settle the accounting

I never said it was your fault. I said it is your obligation.

Quote:

---

Quoting jk

---

You said the financial accounting included the $500 credit but due to the missing form the escrow company could not apply the credit. The error for not providing the form may very well be one of the agents fault but the escrow company should not have settled the account with an outstanding debit/credit they could not rectify so they should have stated to the agents that there is this outstanding credit/debit and the account cannot be closed out until either the $500 is removed from the deal or the proper paperwork is provided.

that does make it the escrow company's fault.

---

Nowhere in my threads did I ever state "the financial accounting included the $500 credit", so I'm not sure where you're getting that info from.

The $500 IS NOT on the final statement that escrow sent me. They had no idea that the buyers were supposed to receive a $500 credit. I signed the RRRR form, which as far as I'm concerned covered my agreement to pay them the $500 at close of escrow.

If the agents (mine and theirs) don't have the aptitude to get the proper documentation together prior to closing, and escrow closes the transaction, how does the burden then fall on me? That's my point in all of this, I should not be held accountable for the errors and omissions (or lack of attention to detail) by the agents, thus why I suggested telling them to use their E&O insurance...

Then color me embarrassed and let me apologize. I thought I had read it was. That will teach me for doing this on my phone.


So the question is; where did it go? Are you saying it was never applied to the accounting (by the escrow office)? I suspect my error was that you stated the escrow office could not apply the credit because the of the addendum was not provided but you also said the agreement to the credit/debit was in fact in the paperwork. I presumed (and still do) the escrow office did have documents addressing the credit/debit.

If the escrow office had the agreement, even without the signed addendum, I still see this as an escrow issue as they are responsible to gather the various paperwork and properly list each item. If they had documents showing there was this credit/debit then they should have inquired as to how it was to be reconciled since it could not be included in the accounting without the addendum.


Bottom line; if you signed documents agreeing to pay it, it is your liability. The closing of escrow does not mean errors discovered after closing cannot be dealt with.

Quote:

---

Quoting jk

---

Then color me embarrassed and let me apologize. I thought I had read it was. That will teach me for doing this on my phone.


So the question is; where did it go? Are you saying it was never applied to the accounting (by the escrow office)? I suspect my error was that you stated the escrow office could not apply the credit because the of the addendum was not provided but you also said the agreement to the credit/debit was in fact in the paperwork. I presumed (and still do) the escrow office did have documents addressing the credit/debit.

If the escrow office had the agreement, even without the signed addendum, I still see this as an escrow issue as they are responsible to gather the various paperwork and properly list each item. If they had documents showing there was this credit/debit then they should have inquired as to how it was to be reconciled since it could not be included in the accounting without the addendum.


Bottom line; if you signed documents agreeing to pay it, it is your liability. The closing of escrow does not mean errors discovered after closing cannot be dealt with.

---

No worries, just letting you know the facts.

The form I signed was an RRRR form (Sellers Response to Request for Repairs from Buyers). Apparently this form isn't enough for escrow to deduct the $500 from the net that I received (I'm not even sure if escrow had it or not).

You concluded your previous reply with "The closing of escrow does not mean errors discovered after closing cannot be dealt with." This is the type of response(s) I was hoping to receive. Do you have any legal jargon to back this up?

Simply put, unless there is a release signed at the time of closing releasing the parties from any possible obligation, the law does allow for an error to be corrected in most situations. barring some release as I spoke of I see no reason this error cannot be corrected if there was an agreement in place. Signing the paper does not show when the agreement was made. It shows when the agreement was reduced to writing. The agreement was made when both parties did in fact agree to it.