Legal Question in Business Law in California

Escrow Error

I recently discovered an escrow error in the purchase of my new home. This happened some 7 months after the close of escrow. It seems that the escrow company (in error) calculated costs and payouts based on a cost of $536K instead of the agreed upon (and in the escrow instructions) price of $535K. This cost us $1,000. Is there a course to remedy this and if so what should that course of action be?


Asked on 1/30/01, 5:47 pm

2 Answers from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Escrow Error

My guess is that the escrow company would rather settle than be sued, even in small claims, in order to protect their reputation. Take all your documentation to the highest officer with whom you can get an appointment. If they don't agree with you, listen very carefully to their counter-argument and take good notes. If they are clearly wrong and can be made to admit it, I think it's 90% likely they'll write you a check for $1000 to settle. If they don't and/or their argument for why they are right doesn't ring true to you, try small claims.

Read more
Answered on 3/15/01, 11:40 pm
Ken Koury Kenneth P. Koury, Esq.

Re: Escrow Error

Probably the easiest thing to do is to go to small claims court on it.

Read more
Answered on 3/15/01, 1:49 pm


Related Questions & Answers

More Business Law questions and answers in California