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  1. #1
    Join Date
    Dec 2014
    Posts
    4

    Wink Real Estate Agent Forgot to Collect Down Payment

    My question involves real estate located in the State of: Louisiana

    Our real estate agent forgot to bring our down payment to the closing table but the title company let us close anyway telling her to bring it them the next day. Her brokerage never found our down payment or maybe never collected it (I Don't remember, offer submitted 6 months ago on short sale and I don't have a receipt). Now the title company is asking us for the $500 deposit AFTER we have closed.

    Are we obligated to pay this?

    Agent has a list of other blunders during this transaction as well. The short sale was approved by capitol one then two hours before closing the agent initially lied to us about why but notices that capitol one reduced her commission on the HUD 1 then told us suddenly the sale was unapproved. I asked the title company if we paid the difference could we still close and they said yes. They told us to write a separate check to the agents brokerage outside of the cashiers check we gave for the land. Looking at our hud 1 the extra money we paid isn't on there and now we are afraid we've done something illegal.

    She also gave us a disclosure that said there was a water well on the property and that we were getting a great deal which it does not have a well and when we told her so she said oh well the husband says it is on that lot but the wife says its on another so she really isn't sure.

    I really just want to know if we are obligated to pay the deposit at this point because this nightmare just wont end. We don't want to pay it due to the derelict agent and having to already pay additional commission after she lied to us about why.

    Sorry to be long winded about this but I thought a little background might help and the agent seems to have no regard for what she puts in writing. Thanks in advance for any help we can get.

  2. #2
    Join Date
    Mar 2013
    Posts
    17,060

    Default Re: Agent Forgot to Collect Down Payment

    Quote Quoting carolynski
    View Post
    My question involves real estate located in the State of: Louisiana

    Our real estate agent forgot to bring our down payment to the closing table but the title company let us close anyway telling her to bring it them the next day. Her brokerage never found our down payment or maybe never collected it (I Don't remember, offer submitted 6 months ago on short sale and I don't have a receipt). Now the title company is asking us for the $500 deposit AFTER we have closed.

    Are we obligated to pay this?
    Yes.

    Unless you can prove you already paid it. You didn't get a receipt but did you pay by check. Your bank account should have a record of it. If not, and you can't prove that you paid it, you'll have to pay it again. Be thankful it's only $500. That's your tuition for a life lesson in insisting on receipts when you give somebody money.

    As for the disclosure issue I'm guessing you did not hire a home inspector or well inspector to check things out.

    Any other complaints you might have, take them to the state real estate agents regulatory agency.

  3. #3
    Join Date
    Dec 2014
    Posts
    4

    Default Re: Agent Forgot to Collect Down Payment

    I have a pre-purchase agreement that said I gave the deposit and a notarized act of sale that says I gave a deposit, those are my receipts.

    Does this not hold any legal weight?

    We sign miles of paper work during these purchases all with absolutely no worth what so ever I guess. This paperwork must just be a smoke screen of the "professional" we hire to make it look like they are doing something important.
    -Very disappointed

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Agent Forgot to Collect Down Payment

    You either paid the money or you did not. You appear to now be stating that you did not, but hope to make the real estate agent come up with the money you didn't pay. Is that what you are trying to do?

  5. #5
    Join Date
    Dec 2014
    Posts
    4

    Default Re: Agent Forgot to Collect Down Payment

    My story hasn't changed I don't remember if I I did or didn't, it was 6 months ago. I don't have record of it so I probably didn't as stated above.
    I must have asked the agent if we had everything we needed a thousand times and warned the title company of her deceitfulness and to be sure to cross t's and dot i's because of her and this happened anyway.

    Obviously I have no interest in paying it due to our experience with her and would consider it restitution.

    I will most likely not pay it. I haven't gotten the "legal" advice I was seeking here but I'm confident a judge will consider our act of sale final say that it was paid

  6. #6
    Join Date
    Mar 2013
    Posts
    17,060

    Default Re: Agent Forgot to Collect Down Payment

    Contradiction:

    Quote Quoting carolynski
    View Post
    My story hasn't changed I don't remember if I I did or didn't, it was 6 months ago. I don't have record of it so I probably didn't as stated above.
    Quote Quoting carolynski
    View Post
    I have a pre-purchase agreement that said I gave the deposit and a notarized act of sale that says I gave a deposit, those are my receipts.
    You either have documentation of payment or you don't. Which is it?

    And, yes, if you have documentation of payment you can send that documentation to the escrow company and tell them to pound sand.

  7. #7
    Join Date
    Dec 2014
    Posts
    4

    Default Re: Agent Forgot to Collect Down Payment

    I have a pre purchase agreement and an act of sale showing a deposit was made because we have closed on the property.
    I don't have a separate receipt backing up that it was paid or that the agent collected it. At the closing table she stated that she forgot it then her brokerage the next day said they never received it, Now after we have closed the title company is asking for it.

    Am I still obligated to pay?

    a note on the other issues: I actually found a law that clearly says paying agents commission outside of the HUD1 is totally illegal so they may have a bigger problem according to 1974 Federal Real Estate Settlement Practices Act

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