Closing Problems

What is the name of your state? TN


Just yesterday 6/30 we closed on a house we were selling.
The original contract we signed stated that we agreed to pay up to $4950 in buyer's closing costs. Then there was an addendum signed that we agreed to pay an additional $600 in closing costs in order to allow the buyer to use the American Family Funds Program. Then yet again another addendum was signed stating a breakdown of the ~$5600 into $2100 for buyers closing costs and ~$3500 for down payment . At closing when we looked over the HUD settlement statement there amounts for ~$2000 closing costs but no down payment. We questioned this and our agent called the buyers closing attorney and and they said egverything was ok and the documents were correct. We signed everything and walked away from the table. As an extra safe guard we had them double check and we would pick our check up later. We picked up the check later and it was stil the sam3e and our agent said everything was right.
Here's the problem.
We got a call today from our agent saying that we now owe the ~$3500 because it was left off the closing documents.

We told them we were not going to pay them and they said they could stop payment on both our mortgage payoff and profit check.

I was under the impression that the settlement statement once signed by bvoth parties was binding and superceeded any previous agreements.

Can they stop payment on the profit check?
I Checked the mortgage balance on-line and it shows $0 so thats been paid already.

Do we owe the ~$3500?


Thanks in advance for any help.

[HomeGuru]

Originally posted by whitewolf81468
What is the name of your state? TN


Just yesterday 6/30 we closed on a house we were selling.
The original contract we signed stated that we agreed to pay up to $4950 in buyer's closing costs. Then there was an addendum signed that we agreed to pay an additional $600 in closing costs in order to allow the buyer to use the American Family Funds Program. Then yet again another addendum was signed stating a breakdown of the ~$5600 into $2100 for buyers closing costs and ~$3500 for down payment . At closing when we looked over the HUD settlement statement there amounts for ~$2000 closing costs but no down payment. We questioned this and our agent called the buyers closing attorney and and they said egverything was ok and the documents were correct. We signed everything and walked away from the table. As an extra safe guard we had them double check and we would pick our check up later. We picked up the check later and it was stil the sam3e and our agent said everything was right.
Here's the problem.
We got a call today from our agent saying that we now owe the ~$3500 because it was left off the closing documents.

We told them we were not going to pay them and they said they could stop payment on both our mortgage payoff and profit check.

I was under the impression that the settlement statement once signed by bvoth parties was binding and superceeded any previous agreements.

Can they stop payment on the profit check?

**A: yes.
*****
I Checked the mortgage balance on-line and it shows $0 so thats been paid already.

Do we owe the ~$3500?


Thanks in advance for any help.

**A: yes you do.