I won a bid in auction to buy a REO property. We agreed to close tomorrow and title company sent me HUD-1 today. HUD list $700 in closing fee, $50 Deed Prep Fee and $105 in item 1302: code violation to: Title Support Service Inc. They asked me to pay all of these.
My question is:
1)$700 closing fee is too high. What could happen If I disagree this number? May I lose the deal or even lose $2500 deposit?
2) There is a exhibit page (Exhibit C Additional Closing Instructions) that attached to the contract that I was not asked to sign. The exhibit said Estimated Closing Fee: $700. Is this exhibit a legal document if I did not sign it?
3) Even if exhibit said Estimated Closing Fee is $700. May I argue that $50 Deed Prep Fee and $105 in item 1302 also belong to closing fee and they should not list it in seperate column?
My question is:
1)$700 closing fee is too high. What could happen If I disagree this number? May I lose the deal or even lose $2500 deposit?
2) There is a exhibit page (Exhibit C Additional Closing Instructions) that attached to the contract that I was not asked to sign. The exhibit said Estimated Closing Fee: $700. Is this exhibit a legal document if I did not sign it?
3) Even if exhibit said Estimated Closing Fee is $700. May I argue that $50 Deed Prep Fee and $105 in item 1302 also belong to closing fee and they should not list it in seperate column?