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Need some advice please closing tommorow

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New Member

Need some advice please closing tommorow

I am supposed to be closing tommorow. The seller is paying up to $9000 towards closing costs. We paid $400 for the appraisal and we gave $500 to the real estate agent to go into an escrow account. Wells fargo told us that the appraisal is part of the closing costs and that we should be getting that money back at closing. Our real estate agent told us that we would not be getting any money back at closing. I am really confused and also she said we do not get our $500 deposit back when I thought we did. She is a dual agent. If we are supposed to get this money back who will we receive it from? Also the sellers were supposed to ground all the electrical outlets in the house and she told us they had an electrician come out and do that but we have yet to see the paperwork showing that was done. I sent her an email about it but it seems like she is trying to avoid us until closing. Any advice would be great.
Message 1 of 4
3 REPLIES 3
Super Contributor

Re: Need some advice please closing tommorow

Is the realtor doing the loan? No? Then ignore the realtor when it comes to the loan.

No one is going to steal your earnest monies. It is YOUR money.

 

Get your loan officer on the realtor about repairs... you likely cannot close until they are done.

 

Retired Lender
Message 2 of 4
New Member

Re: Need some advice please closing tommorow

So if the $400 appraisal is part of the closing costs and we paid that already how are we going to get that money back from wells fargo or do the sellers have to give us a check or something. The $500 escrow we should get back from the real estate office correct?
Message 3 of 4
Community Leader
Super Contributor

Re: Need some advice please closing tommorow

The refund comes from the title/escrow company.  You'd only get a refund of the appraisal fee if the seller is agreeing to pay all of your closing costs though.

Helping people with mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Orange County, CA and lending in all 50 states
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