Re: closing gone bad to worse
Posted by katie on 2/19/09
On 7/19/08, Burt wrote:
> Brooklyn, New york
> I sold a two family property in brooklyn, New york
> 12/22/2006. At the closing there was an equity loan that
> was paid but the satisfaction letter was never submitted.
> It was aggreed at the closing that upon the receipt of the
> letter all paperwork would be transfered and remaining
> funds(closing cost) released from the banks attorneys
> escrow accounts .
> Two weeks later the satisfaction letter was recorded.
> Unfortunately the banks attorney for the lender escrow
> account was seized by the AUSA. The ony money that was in
> the escrow account from this transaction were the closing
> fees in the amount of $24k. The title co. states that the
> deed will not be transfered until all the fees are paid
> all though the paperwork has been signed and dated.
> NYC records show that I am still the the only person on
> the deed with all leins an mortgage satisfied. My lawyer
> at the time no longer returns my calls. The buyer states
> its not her problem. The buyer's lender option one
> mortgage stated just write us a letter and we will forward
> it to the buyer? I recieving tax statements,and water
> I even chnged the locks on the door. All they did was
> change them back. It would take at least 3-6 moths to
> attempt to get an eviction in nyc housing court mind the
> transaction. The last two attorneys I spoke with stated
> they ould not be sure where to begin? And suing cost is an
> Q.Is the title company responsible and would it be
> feasable to sue
> Q. Can I legally sale this property again, this thing has
> been going on close to two years.
WOW...That stinks. How many times will our credit be looked
at before our home closing date? Do they also check the
credit a few days before closing too? thank you so much:)