Posted by Kevin on October 20, 2006 at 23:14:29:
I have had this happen before. Normally at settlement the attorney has you sign a paper agreeing to help fix any mistake. If you owe more for taxes you are responsible for paying it. The attorneys mistake is simply money you or the other party should have paid. However if there are penalties and interest because the payment was late maybe the attorney will pick up these costs, or maybe not.
Kevin
HUD-1 error - Posted by Wendy
Posted by Wendy on October 20, 2006 at 22:48:02:
Buyer’s attorney completed the HUD-1 and used the wrong year for taxes. Funds were disbursed to seller based upon 2004 taxes not 2005. Isn’t the attorney responsible for his error or can he come back on the seller for more money a year later?
Re: HUD-1 error - Posted by Rich
Posted by Rich on November 04, 2006 at 21:42:19:
I always have the documents e-mailed me the day before closing and read through them carefully. You will find all sorts of things. Correct them and send them back.
Re: HUD-1 error- Not Uncommon! - Posted by Jack
Posted by Jack on October 22, 2006 at 15:42:07:
HUD 1 errors happen all the time, either intentionaly or not. Always review all closing documents carefully, preferably at least the day before closing. I consistantly find errors, probably 90% of the time.