Home Selling in New York>Question Details

Dvlopez67, Home Buyer in Shirley, NY

Ecsrow money held from sale of my home?

Asked by Dvlopez67, Shirley, NY Thu Jan 31, 2013

I sold my home in 2007 and $7000 was held in escrow because I didn't have a clean title from when I purchased my home in 1974. How or where do I go to get that money?

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11
Marco LaPadura and David Lau’s answer
I agree with the other brokers you need to contact the attorney you used for the closing and find out who is holding the money. Also find out exactly what the title issue is. As a general rule of thumb attorneys do not like to hold escrow for a prolonged period of time if it can be avoided.
0 votes Thank Flag Link Sun Feb 3, 2013
Do you notice the irony in your response, VIP Michael Cheng from California replying in New York? :-D
1 vote Thank Flag Link Sat Feb 2, 2013
Nope. How do you see irony? :)
Flag Sun Feb 3, 2013
@ David. Some provide similar answers to elaborate upon others, but you're right about the rest.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sat Feb 2, 2013
Why do so many agents keep answering with the same answer? Do they EVER bother to read the answers already posted or are they just so desperate to get that stupid VIP badge?
0 votes Thank Flag Link Sat Feb 2, 2013
You really should be contacting the attorney....
0 votes Thank Flag Link Fri Feb 1, 2013
This is something that should be addressed with your attorney that handled the transaction at the time. If you don't get a satisfactory answer, you may need to get another attorney, or contact the local bar association
0 votes Thank Flag Link Fri Feb 1, 2013
The best advice you can get is to speak to the attorney who represented you in that transaction.

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Nicolas Puygrenier ǀ Licensed Real Estate Broker
Mona Lisa Real Estate Group LLC
419 Lafayette Street, New York, NY 10003
Telephone: 917 499 1917
Email: nicolas.puygrenier@monalisanyc.com
0 votes Thank Flag Link Thu Jan 31, 2013
All the answers below are good advice- 1st things 1st- call your attorney that represented you. If you have your paperwork from your closing -bring to your attorney's office-they will make copies of what they need and keep your originals. This way they will not need to dig for your files from storage. Then take it 1 step at a time. Let us know how it works out for you. It could be either of the attorney's holding escrow or the title company. email TKorahais@elliman.com
0 votes Thank Flag Link Thu Jan 31, 2013
Hi DV. Five years plus down the road you are asking about this money? How did you let it get this far? Get on the horn to the Attorney that represented you in this sale and ask the pertinent question. It's likely your Atty set up the escrow account in the first place. Good luck.

This is also a great example of clouds on a title and how they can impact a sale. This situation brings up another question. You say you didn't have clean title in 1974. I find that interesting. If you bought and financed the purchase, you Bank would have required a satisfactory title search before lending. It would appear there is some missing information here.
0 votes Thank Flag Link Thu Jan 31, 2013
Usually in NYS one of the attorneys hold the escrow. Speak to your attorney, who represented you on the sale and review all the documents to see what the terms of the escrow were, how long they were supposed to keep the money for and what was the required procedure to get it back.
0 votes Thank Flag Link Thu Jan 31, 2013
Dvlopez,
I would start with whoever is holding the money. By now this should have been resolved. Before you call them however, review your paperwork, it may have had a time limit to resolve this or the funds may have already been released somewhere.
0 votes Thank Flag Link Thu Jan 31, 2013
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