Am I required to pay additional costs to the Title company after closing on a house?

Question

I recently purchased a home and we signed closing docs last week with Title. Today my agent says the Title company over estimated our credit for property taxes and we now have to repay $500. Do I have to pay this since we have already signed off??? It's their mistake! Once of many thus far. . .

Answer 1

Yes, because you also signed a document at closing stating that you would make good on any CLERICAL error or the bank has the right to call the loan due and payable immediately.

They UNDER estimated your property taxes or else you wouldn't have had to pay anything...you would be getting back.

Answer 2

SURE.  You agreed to come in and sign and make good for any errors.

It's annoying, shouldn't have happened, but. . . .

Where was your attorney?

Answer 3

Yes, you will have to pay the difference.  If you take the time to read all those docs which you signed, you authorized the lender and title firm to correct such mistakes after the fact, and agreed to pay for same.

Don't be silly, dear.  If they UNDER estimated that property tax credit, would you expect a refund ?  Of course you would.  It works both ways.