Realtor made a realtor contribution to my closing on a new home by accident. Now is asking for reimbursement. Do I have to submit a payment?
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Realtor made a realtor contribution to my closing on a new home by accident. Now is asking for reimbursement. Do I have to submit a payment?
The realtor made a contribution on both sale of my existing home and purchase of new home. It was a mistake to contribute to purchase of new home and realtor is asking me to reimburse for mistake.
Asked on October 15, 2018 under Real Estate Law, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Yes, you do.
1) A mistake does not let you keep money (or get the benefit of a payment made on your behalf) if you are not otherwise entitled to it; they could potentially sue you for the money and if they did and can show it was a mistake, will win.
2) As you note, a realtor can't contribute on a new home. The contribution could cause problems with your loan if the bank discovers it and wants to make an issue of it (assuming you have a loan) since it is not allowed.
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