Tuesday, April 19, 2011

What? You think you should keep the $25,000?

We closed a transaction last month.  We made a mistake.  Everybody makes mistakes.  That's why you need to buy an owner title insurance policy.

Our seller is a local appraiser, a popular appraiser who has been in the business for a long time.  Our title search revealed two mortgages.  We got two mortgage payoff letters.  The mistake happened in the HUD-1 preparation.  For some reason someone

What? You think you should keep the $25,000?

We closed a transaction last month.  We made a mistake.  Everybody makes mistakes.  That's why you need to buy an owner title insurance policy.

Our seller is a local appraiser, a popular appraiser who has been in the business for a long time.  Our title search revealed two mortgages.  We got two mortgage payoff letters.  The mistake happened in the HUD-1 preparation.  For some reason someone