Mizafarhan,

That is your fee. The Seller paid an equal escrow fee and a large Title insurance fee.

Most Escrow fees are based as follows. $2.00 - $2.50 per thousand plus $250.00 (per side of the transaction)

The Seller paid approximately $1550 for the Seller's Title Policy.

Hello Mirzafarhan,

Only escrow is split 50-50. Your lenders title policy is your own expense. The seller had a much more expensive owners title policy that they paid for on your behalf.

hope this helps....it's the best I can do without seeing the file and all your papers. I know your realtor and the escrow company will straighten all of this out no matter how much time passes. It's not as if it's too late to fix anything that has gone wrong. It will be okay; from the looks of things, it is probably right the way it was charged. Please enjoy your new home and welcome to Ventura.

The purchase price was 600k on the purchase and escrow i paid was $1650 and title fee was 820

Mirzafarhan,

Hello, you should have received or discussed an estimated cost from your agent when you started working with them. See what the escrow and title fees were on the estimate. Also depending on the purchase price, $3000 for title and escrow, might be right.

I am not aware of a situation where the buyer gets a copy of the seller's HUD-1 statement. Also as the fees, you do have a lender's title policy fee so without knowing the purchase price it's hard to understand if you have overpaid.

Mitzafarhan,

I think you may be assuming that the Seller (or, in this case the Seller's bank) did not pay "each their own" for tilte insurance and escrow fees. As a Buyer, there are escrow fees plus, your lender requires you to pay for title insurance (a smaller figure when compared to the Owner's Title Policy). So, before you get too upset, call the escrow company on Monday to get to the bottom of this. Escrow goes by what the contract says. They can't make decisions as to how the funds will be dispersed. Also, keep in mind, you signed a Buyer's Estimated Closing Costs sheet (usually 8.5" x 14") a few days prior to funding. What are the figures on your own HUD-1 Estimate? Be sure to save the final closing statement, as your tax professional will need those numbers, so you can write off some of the cost of the purchase (including interest on you loan). You may also be eligible for the first-time Buyer tax credit.

I am confident there was no error here. Maybe, it's just a mis-understanding as to what the fees are for an escrow. Congratulations are your new home!!

Good morning. It is almost never done that you are able to see the HUD for the seller. Are you absolutely positive that another $3,000 was not on their HUD?

I would go back through all the papers that came after your offer was made. In a short sale, the banks always come back with a number of items they will not pay for, regardless of what buyer and seller agreed upon in the contract. If you don't agree to their terms, you don't get the house. They are taking a big financial hit already and chisel away at the kinds of fees that show up on a HUD. It is entirely possible they refused to pay the escrow fee and that this information is in writing on one of your papers. I am shocked that your agent just wants to wash her hands of this without looking through the short sale bank letters and contacting escrow on your behalf. Escrow must respond to your inquiry; this escrow officer has a boss and the boss has a boss. Don't stop calling them until you get a complete answer backed up by proof of what happened to your escrow fee. Escrow officers don't charge people without something in writing telling them to do so; I am sure there is a reason and that if you persist in calling, you will get your answer. I am like Grace from Cupertino - I go over every HUD looking for errors and garbage fees. I hope you enjoy your new home - don't let this bug you all weekend because it will get resolved.

Dear Grace, thanks for your response. I got my HUD the time of teh clsoing as we were on the last day of the lock period ad the mortgage company would have charged me an additional 0.25% point for extension, My real estate agent has not even looked at my HUD. I did try contacting my agent. If the agent says he/she cannot do anything, in CA am I out of options, I agree I sined but I was dumped with tonnes of paper and missed this till 24 hours after ythe closing. There should be a legal remedy if my realtyor and the escrow officer whom I have contacted are not responding. Thanks

Hello Mirza and thanks for your post.

The person to best answer this question would be your Realtor or agent. Contact your agent to find out why the HUD-1 was incorrect. Normally, as a Realtor, I request a copy of the HUD-1 for each sale about 1 day in advance of closing so that I can review all of the figures and determine if there are any mistakes that need to be corrected. Most of the time, escrow officers are good at reviewing the contracting to determine how costs are split, but--especially at the middle and end of the month--escrows can come faster than lightning and a few errors can slip through the cracks.

Speak with your agent about the problems and review how or why the escrow fees were not split as previously agreed. Since funds are often not disbursed for more than one day, there may be a way to make corrections to the account if you act fast. Work with your agent to remedy or clarify any possible problems.

Good luck!
Grace Morioka, SRES, ePro
Area Pro Realty
San Jose, CA