How My Camera Phone Saved Clients $90.00
August 15th, 2008 categories: Home Buyers
Back in the day, (when you could fill your oil tank for around $2.00/gallon), WWIII did not have to erupt at the closing table to fight over the fuel gauge because it wasn’t a lot of money.
With the cost to fill your oil tank approaching $1,000, closings can get really interesting when the parties disagree about the oil in the tank.
When In Doubt, Shoot
During a recent walk-through, I checked the status of the oil tank. Just in case we had any disagreements about the reading, I took a picture with my camera phone (that’s why the image is blurry).
At the closing, the attorneys discussed the amount that the buyers were to reimburse the sellers for. The seller’s attorney said the tank was 3/4 full. I told them that it was closer to 1/2 full than 3/4, a difference of about $180.00
The seller’s attorney continued to argue that it was 3/4 full although she had never seen it and was going by the seller’s agent who wasn’t at the closing. I had actually been to the property and was telling them it was closer to 1/2 than 3/4 full, but I guess my opinion didn’t matter.
So, I whipped out my camera phone and showed both attorneys the picture. The buyer’s attorney offered a generous compromise - let’s split the difference with the buyers getting a $80 credit.
The seller’s attorney still continued to argue saying that it was ridiculous to change the HUD-1 over $90.00. However, she lost that argument and the buyers got $90.00 back.
