Selling Home: Seller Statement Was Updated 1 Day Before Escrow Closing. Now Requires Addtl 37k To Close. Cannot Cancel Sale. Help
Location: San Diego, CA, USA
From the beginning of scoping out the possibility of selling our condo and buying a home the realtor advised the cleanest move is a 21 day close. We provided all documentation and a seller statement was produced by the title company. Ultimately the sales figures looked good and we agreed to begin the process. We select a new home and purchase, that was fine. We listed our condo for sale and we received and accepted an offer. The deal goes into escrow. 1 day before close the seller statement is updated and they initially missed listing a 2nd principal due on the mortgage. They adjust the sellers statement to include the 2nd principal due on the mortgage and now $37k is due to close. They had all these documents since the beginning and failed to include it on the original sellers statement.
I don’t have that money to close so I asked our realtor to cancel the sale. They said that we cannot at this point and will be sued if we do.
I’m forced to apply for personal loans to accommodate this new closing cost, start searching for a 2nd job to pay for the personal loans.
Is there anything I can do since the initial sellers statement was not produced correctly??
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