W
W. Main
Guest
Am I legally bound to pay more money after closing and settlement on my Florida home sale? One year and four months after closing, the title office which acted as settlement agent has written to ask me to send her $2000 which she mistakenly did not include in the final paperwork. It was the cash deposit which I was holding from the buyer. The agent knew this but did not remember it later in drawing up the final papers. My husband and I didn't realize it assuming she had done everything correctly. She says it has now turned up in an audit. However, it would have been easy to pay it at the time of sale or even soon after, but now almost 1-1/2 years later, it's quite stressful and disappointing. We are prepared to return the money because we feel compelled to be honest and see it as a moral situation. But it hurts! The agent says she must send receipt of the funds to "the Insurance Commissioner." Is that our Florida State Insurance Commissioner? Would her deadline be the end of this tax year? What if she tells them it is a loss and then pockets our money for herself? It may be her personally-owned business. My mortgage was paid and closed. She wants the money sent to her office. She has not said I am legally bound to repay it. Thanks.