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Legalease
Legalease, Lawyer
Category: Real Estate Law
Satisfied Customers: 16288
Experience:  13 years experience in RE Law, including LL/Tenant, contractor disputes, comm'l prop. issues
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The title company failed to gives a check at closing overage

Customer Question

The title company failed to gives a check at closing for the overage amount we deposited for earnest money into the escrow account. By law how long do they have to gets the money? Are the in violation of a statute for failure to give it to us at closing?
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Legalease replied 5 months ago.

Hello there --

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The title company has thirty days post closing to completely settle out all matters on the HUD 1 settlement sheet. If you do not have the money within thirty days of the closing you should file a complaint with the Real Estate licensing division in your state (you should be able to find the agency online if you perform a search -- each state calls it something different such as "Real Estate Board", etc. but there is an oversight state agency in every state).

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