Legal Question in Real Estate Law in Georgia

HUD statement - can we be forced to re-sign?

We sold our condo.

An ammendment to the sales contract stated that we, the sellers, agree to increase sales price by $7000 and pay, at closing, $7000 to contractor of buyer's choice for purpose of hardwood floors.

During closing, the attorney reviewed every item of the HUD statement with the buyer, and us. Loan officer and real estate agent also confirmed they had reviewed the HUD.

All parties signed as instructed, and closing was finished.

The settlement statement did not reflect a $7000 reduction in the seller's proceeds, as it should have, and we deposited the check.

Can we be forced to go back and redo the HUD, and give back the $7000? Or is this final? Which contract, the ammended sales contract, or the final HUD at closing, will be held as the final say?


Asked on 11/25/03, 6:55 pm

1 Answer from Attorneys
Wayne Wisong Wayne Wisong, Attorney at Law

Re: HUD statement - can we be forced to re-sign?

If you dig in they would probably have to bring an action to reform the contract. This is not a favored remedy. They would basically have to show it was clearly a clerical error or otherwise obviously did not reflect the intention of the parties.

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Answered on 11/25/03, 6:58 pm


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