Home Buying in Oklahoma>Question Details

Sydney, Home Buyer in Oklahoma

Buyer Responsibility AFTER closing.

Asked by Sydney, Oklahoma Wed Jan 21, 2009

Hello. I was wondering what the legal responsibility was for the buyer to pay additional costs AFTER the closing and possession of the house has already occurred? Thank you so much! Oklahoma

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5
Hi Sydney!

I was just wondering how everything ended up. Drop me a line and let me know. Hope all went well!

Jennifer Henning
1 vote Thank Flag Link Fri Mar 20, 2009
It sounds to me like your Realtor or lender forgot to submit the invoices for the inspections to the title company. If the seller was going to pay a percentage of the closing costs and certain items didn't get paid, I would get with your Realtor or lender and ask him/her to go over the HUD with you and show you exactly where all the money goes... I would make sure that every single penny of what the seller was to pay towards closing costs was used to your advantage. If the seller did contribute the maximum amount that you agreed to in your contract, than you would have had to bring the monies you owe now up front to closing. I see what you are saying about no costs should incur after closing, but unfortunately it sounds like the costs you owe were actually incurred before closing and someone forgot to submit those to the title company. But definitely get with your Realtor, our job doesn't necessarily end at closing.
1 vote Thank Flag Link Wed Jan 21, 2009
What type of additional costs are you talking about and to who?

Everything should go through the title company and the title company should have a HUD which lists all the costs of the entire real estate transaction. You can receive a copy of the HUD from your Realtor, the lender or the title company. Everything should be payed at closing by the title company from the proceeds of the transaction. If you or the other parties involved submitted receipts or invoices for outstanding fees, the title company usually cuts checks to the appropriate parties ie, inspectors, repairmen, etc. As a buyer, you are responsible to pay for any and all inspections, including termite inspection, unless it states otherwise in your contract. After the closing, you as a buyer should not owe anything to the seller (Provided you did the transaction with traditionally and with a Realtor and title company.
1 vote Thank Flag Link Wed Jan 21, 2009
Thank you so much for your insight! I just worry that there will be more and much more expensive "mistakes" that will be found. Is there a time period that is set that no further costs can be brought up?
Thank you again, you have been so helpful and I'm so appreciative!
0 votes Thank Flag Link Wed Jan 21, 2009
This is our first home so we purchased it traditionally through a Realtor and used all the recommended services and mortgage company. The seller was paying a percentage of the price of the home towards the closing costs, so our Realtor had the termite inspections, home inspections, etc. billed at closing so they would all be calculated, with exception to the appraisal that is paid up front.
It has been a week after closing and now we are finding out that we owe additional costs because there was a mistake on our paperwork and the inspections were 'forgotten'.
I was under the impression that no more costs were to be incurred after closing, is this correct?
I'm worried that in another week they are going to come back with more expensive additional expenses that were "forgotten". Is that possible? Thank you so much!
0 votes Thank Flag Link Wed Jan 21, 2009
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