Last month we had two transactions that would have closed and netted our sellers less money than they deserved…in one case an expense of approximately $400 and in another over $3500.
The $400 question….we provided the seller with a copy of the survey from his purchase of the home we sold him several years ago and also gave him a T-47 to have notarized in front of a notary proving that he did not do any structural changes to the outside of the property and provided it to the title company and buyers agent within the 7 days requested on the contract.
4 days before closing….the title company stated we would need a new survey. Per the title policy, the survey did not have the correct unit number of the subdivision so a new survey would be required. Lisa obtained the correct subdivision of the property and attached that information in an email to the title company…three emails later they realized they had incorrectly written the wrong subdivision on their title policy. The title company revised their paperwork so a new survey would not be required.
The $3500 plus question…..the title company provided us with a settlement statement that showed the seller netting approximately $3500 less than Lisa estimated the day before closing….Lisa reviewed both the settlement statement provided along with her net sheet and realized taxes were not being collected properly by the title company. Lisa provided the title company with the county tax assessors printed statement and the settlement was corrected. Trying to get a rebate for overpayment of taxes you don’t owe isn’t easy and sure isn’t easy if you aren’t even aware that you overpaid.
Why do you need an experienced agent? Someone needs to protect your bottom line! When your agent has reviewed over 1,000 settlement statements she knows when a mistake has been made….and mistakes that cost money aren’t acceptable to us!