Legal Question in Real Estate Law in Texas
Buyers Remorse at Title Company Transaction
I closed and signed the paperwork on a property on Friday, Sept. 29, 2006. After looking at the things in my column to pay for, I am having buyers remorse... for the services I pay for. Do I have three days to change my mind? Do the weekends count as part of my three days?
Here are the items I want to change.
1. Document Perparation by the attorney at the Title company $ 95
2. Escrow Fee to title company $ 100
3. Lenders Doc Prep: Lawyers company $ 125
4. Tax Certificates Reimb. title company $ 12
5. Recording Affidavit $ 20
My questions are as follows....
Regarding #1. Should that be at least split between buyer and seller?
Regarding #2. This was split $100 for each side... I don't have too a problem with this.
Regarding #3. This is regarding the lenders of which I am not involved. The buyer is the one using the bank not I.
Regarding #4. This is not too big a deal.
Regarding #5. This is not to do with me as I will have nothing to do with the land after it is sold.
2 Answers from Attorneys
Re: Buyers Remorse at Title Company Transaction
To specifically answer your question, no. On a purchase/sale transaction there is never a 3-day right of recission. The borrower on a refinance or subsequent second lien has this right and in calculating the days, it does not include weekends or legal holidays. On your charges, call your escrow officer and ask her or him to explain why you were charged for these items - mistakes are made and you may be entitled to a refund.
Re: Buyers Remorse at Title Company Transaction
It looks like the only legitimate questions that exist are the lender's documents and the recording fee on the affidavit. If the affidavit was to cure a title question, the the recording bill will be yours. Unless there was some special agreement regarding lender's documents, it appears that it should be the buyer.
What you should do: Call the title company closer and see if it was a mistake.
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