Asked by mjare46, Friendswood, TX • Fri Mar 29, 2013
My daughter found a townhome on HomePath which she really liked. REO agent listed it as a 'townhouse', county records described it as a 'single-family townhouse unit' with separate values for lot and structure. Her RE agent, insurance agent and lender all proceeded with loan on the basis it was a townhome. We even opted for the 5% down program over 3.5% program because it had a better rate for just $247 more. We had also elected to use sellers attorney to process closing to save on CC expense. In spite of several requests from her lender, the attorney did not provide lender with title work until 2 days before closing. It turned out that because the property was actually a CONDO, the insurance had to be adjusted AND the discount rate was increased by nearly $500 solely because of the property class chg. Also, attorney had scheduled closing for today but did not provide my daughter with HUD until 2 hours before. Her RE agent advised against rescheduling as more problems would arise.
Real Estate in Atlanta
Popular Categories in Atlanta
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!