Legal Question in Real Estate Law in Maryland

So I recently backed out of a deal on the day of closing and managed to get all my deposit back through a technicality. I never paid the bank for the appraisal nor did I sign the waiver saying I authorize the appraisal however of course I knew this was a necessary step. The bank is now coming after me for the money. Do I have to pay the appraisal fee? What are the consequences if I don't? The fee is $425 so I think it's probably not worth their time to sue me over it however I am worried about my credit score.


Asked on 5/26/11, 6:35 am

1 Answer from Attorneys
Robert Sher Wagshal and Sher

You might want to wait and see if the bank turns it over to a collection agency. If that happens, it probably means that they have or will report it to the credit bureaus.

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Answered on 5/26/11, 6:44 am


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