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    Post: closing gone bad to worse

    Posted by Burt on 7/19/08

    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.

    Posts on this thread, including this one
  • closing gone bad to worse, 7/19/08, by Burt.
  • Re: closing gone bad to worse, 7/21/08, by Frankie.
  • Re: closing gone bad to worse, 7/22/08, by Burt.
  • Re: closing gone bad to worse, 2/19/09, by katie.

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